12/9/2010

US fund invests in Turkish high-tech company

Hurriyet Daily News - Invus, the US-based independent private equity fund, which manages USD 4 billion in assets, has made its first investment in Turkey in AirTies, thus undertaking one of the first foreign investments in Turkey on high technology, according to a press release.

AirTies will channel this funding to the European, Middle Eastern and African markets, the press release said, adding that the investment will also aid AirTies in research and development, and sales and marketing studies. AirTies is aiming to be one of the strongest actors in web-based TV technology known as IPTV. Invus Group partner Evren Bilimer said they predict a revolutionary change in the next five or 10 years in home-used internet-based technologies like IPTV. AirTies CEO Bülent Celebi said he expects faster growth for the company in the foreign market by courtesy of the Invus partnership.
turkey; ict industry; high-tech; wireless; network equipment; airties; invus; equity fund