Academica, a Helsinki, Finland-based provider of information and communications technology (ICT) services, has received an equity investment of undisclosed amount from Finnish Industry Investment and Etera Mutual Pension Insurance Company.
Following the investment, the backers will own an approximately 25% stake of the company.
The proceeds will be used to develop the business and expand into new areas.
Founded in 1932, with IT operations dating back to 1985 and led by CEO Marko Vanninen, Academica offers diversified telecommunications, hosting services and IT consulting. In addition, it is a GSM operator and produces virtual exchange services focusing particularly on ecofriendly data center services. Academica employs some 60 IT professionals and generated net sales amounting to €13.3m in 2010.