CMS Hasche Sigle advises Open-Xchange on venture financing
Munich, 04.11.2008Open-Xchange, Inc. has completed a Series B financing round for a nine million US dollar venture. The company, acknowledged as one of the leading providers of Linux-based groupware solutions, was advised by a team led by Dr Ulrich Springer, partner with CMS Hasche Sigle. In the course of the transaction Open-Xchange, Inc. was contributed to a German stock corporation registered in Nuremberg.
The financing round was headed by venture capital investor eCAPITAL, Münster. Further investors in the financing round were BayBG and BayTech – which already holds an interest in Open-Xchange, Inc.
Open-Xchange Inc. supplies companies, educational institutions and authorities with scalable and integrated email and groupware solutions on an OpenSource basis. Hosting providers such as 1&1 Internet supply communication solutions using the Open-Xchange Hosting Edition as Software as a Service (SaaS). Within just one year Open-Xchange was able to increase the number of paying Open-Xchange users from two million to more than eight million. Open-Xchange, Inc. is a privately owned company registered in Tarrytown, New York, USA and has development facilities in Olpe and Nuremberg, Germany.
Advisers CMS Hasche Sigle
Dr Ulrich Springer, Lead Partner, Corporate
Sebastian Wilhelm, Corporate
Contact CMS Hasche Sigle:
Dr Ulrich Springer
Tel.: +40 (0) 89 23 807-249
E-mail:
Ulrich.Springer@cms-hs.com
