Volvo Technology Transfer (VTT) (STO:VOLVA) (STO:VOLVB) and
Industrifonden have sold the portfolio company Illuminate Labs to the US
CAD company Autodesk. Illuminate Labs develops advanced lighting and
illumination technology for computer games.
“We are proud to have contributed to the development of Illuminate Labs
into a world-leading company in its field”
After the sale, Illuminate Labs will be part of Autodesk Media &
Entertainment and continue its operations in Gothenburg. All employees
in the company are being offered a new position within Autodesk.
We are proud to have contributed to the development of Illuminate Labs
into a world-leading company in its field, says Ulrika N. Everingham,
Investment Director at VTT. Autodesks acquisition of Illuminate Labs
is confirmation of the companys niche expertise and business acumen.
Illuminate Labs has developed two solutions that in just a couple of
years have become a proven technology for illumination in games. They
enable more rapid repetition of a games creative intentions and give
games a more realistic lighting.
Together with the team at Illuminate Labs, Industrifonden and Volvo
Technology Transfer show how the combination of expertise and
development capital can create successful companies, says Dan Ekelund,
Investment Manager at Industrifonden.
September 6, 2010
About Volvo Technology Transfer
Volvo Technology Transfer AB focuses on developing and supporting new
businesses relevant to the Volvo Group. Part of this effort is to invest
in companies and projects that are technologically and commercially
attractive. The company also supports the development of
entrepreneurship and innovation within Volvo.
About Industrifonden
Industrifonden (www.industrifonden.se)
offers venture capital, competence and a network of contacts to Swedish
growth companies in most sectors. Industrifonden offers two types of
capital: development capital to small technology companies and expansion
capital to more mature companies that want to grow. The fund has assets
of SEK 2.9 billion, of which SEK 1.6 billion are invested in about one
hundred companies in technology, cleantech, life science and industry.
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The Volvo Group is one of the worlds leading manufacturers of trucks,
buses and construction equipment, drive systems for marine and
industrial applications, aerospace components and services. The Group
also provides complete solutions for financing and service. The Volvo
Group, which employs about 90,000 people, has production facilities in
19 countries and sells their products in more than 180 markets. In 2009
annual sales of the Volvo Group amounted to about SEK 218 billion. The
Volvo Group is a publicly-held company headquartered in Gteborg,
Sweden. Volvo shares are listed on OMX Nordic Exchange Stockholm. For
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Source: Business Wire