Danish start-up ZYB acquired by Vodafone for 235 million DKK

The founders of ZYB and sole investor Nordic Venture Partners have signed an agreement with Vodafone to sell all shares in ZYB to Vodafone at a price of 235 million DKK.

“We are proud of the achievements of ZYB which has moved at impressive high speed since we made our initial investment. The Vodafone deal underlines that ZYB has matured by delivering a simple and sticky service to mobiles with great appeal to customers” says Henrik Albertsen, managing partner at Nordic Venture Partners. “This once again demonstrates the potential of creating big successes in the Nordic region if the will to think big is present” Henrik ads.

ZYB was founded in 2005 in Copenhagen. Around 1,5 years ago Nordic Venture Partners invested in ZYB and total investments to date amounts to 37 million DKK. During this period the ZYB-team and Nordic Venture Partners has taken the company to a position as an undisputed leader of the mobile address book space by offering simple backup, innovative services, and social components building on top of the mobile address book. ZYB is headquartered in Copenhagen with offices in Cambridge and London. ZYB has built a strong global user-base since the launch of the service.

 “I’m very proud of what the team has accomplished. Joining Vodafone presents us with some great opportunities to take our vision to the next level. We share the vision to create a new mobile experience that builds on the convergence between mobile and PC – and work on both platforms. Therefore it makes sense for us to join forces and make the mobile the dream field that the traditional Internet already is. Everything is possible and we feel that together with Vodafone it will actually happen.” says Tommy Ahlers, CEO and co founder of ZYB.

Seller were advised by KromannReumert and EOC Partners LLP Corporate Finance.

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