Will target T&M and secure communications for 4G
Ercom, a provider of test and measurement and secure comms software has raised €12 million in capital from a team of investors. The company said that represents one of the largest funding rounds in the European ICT industry this year.
The funding, which comes from Capzanine, Ercom’s historical investor, and three new investors, Alven, APlus and OTC, is intended to accelerate its core development, as well as international expansion as it establishes local offices.
Pierre Macquet, Ercom VP strategy, said, “In the current economic context, we are pleased to welcome our new shareholders to support Ercom's very dynamic growth. We share common values based on technical excellence and value creation.”
Bought in 2007 by its management and Capzanine from its original founder, Ercom has changed its business model from outsourced R&D projects to product manufacturing and development in the test & measurement, and telco security industry. It claims its turn-over rose by 65% in 2008.
“The new funds enable Ercom to reinforce its financial assets to match the challenges of organic growth, external development and new international offices especially in Asia and the Americas,” Didier Pagnoux, CEO of Ercom, added.