telisma raises an additional €1.2 million with UFG Private Equity.



01 August 2007

telisma raises an additional €1.2 million with UFG Private Equity.

The European speech leader raises new funds with UFG Private Equity to strengthen its international operations.

Paris, May 29th 2007 - telisma, European leader of speech recognition technologies announces its increase in capital of €1.2 million. The new placement was led by UFG Private Equity and followed by its historical shareholders: 3i, Ventech, Innovacom and AGF Private Equity. This capital increase comes at a time where the market is showing a strong demand for speech understanding and interaction solutions across the globe. It will allow telisma to take full advantage of this momentum with its teliSpeech platform.
 
Laurent Balaine, CEO of telisma says: "With the teliSpeech platform we make it simpler, faster and cheaper for partners to make high quality speech solutions in different languages. With the funds that we’ve raised, we will accelerate our development into international markets such as in India and continue to strengthen our product leadership".
 
According to Olivier Denigot and Guillaume Toussaint, Investment Directors at UFG Private Equity: “Thanks to its development tools and its experience of mass market applications we believe telisma is now ideally positioned to take significant market share in international markets. In addition, the growing use of unstructured data makes speech recognition a must and should become an important growth driver for telisma in the near future”.
 
Legal advisors
UFG: Chammas & Marcheteau ; Denis Marcheteau and Arys Serdjanian
telisma: Jones Day; Renaud Bonnet and Anne Kerneur www.jonesday.com  


About UFG Private Equity

UFG Private Equity (formerly Nord Europe Private Equity) is an Asset Management Company specialized in Venture Capital. With a team of 10 professionals, UFG PE completed 24 investments and manages €160 million in 4 different funds: Nord Europe I (French FCPR), Diadème Innovation I and Diadème Innovation II (French FCPI), and Diadème Global Section (fund of funds) in partnership with British bank Schröders. In its direct investment activity, UFG PE brings working capital to private companies at all stages of their development, their management or share holders as: venture capital, development capital, LBO or turnaround. 

Headed by Patrick Lissague UFG Private Equity is a member company of the UFG Group, a multi-specialist, multi-target asset management group. UFG Group is the result of the merger of UFG, Alteram, Multifonds and NEPE and is a subsidiary of Crédit Mutuel Nord Europe. UFG Group has four core competences: funds of hedge funds, private equity, thematic funds and real estate. UFG Group is thus able to provide its target clients (institutional and private investors, professional financial advisors) with investment solutions, including traditional asset classes and ‘alternative’ investments. UFG Group currently manages assets representing more than 17 billion euros. http://www.ufg-pe.com.
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