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© dana rothstein dreamstime.com Business | March 15, 2017

KKCG / Foxconn partnership gets Euopean approval

KKCG and Foxconn have received the EU's anti-trust authorities' approval for the creation of their second joint venture, the ETIP investment fund (European Technology Investment Platform)
ETIP plans to invest funds up to EUR 100 million into established companies that offer innovative technologies and are in the middle stages of their business lifecycle. Focus will concentrate on medium-sized companies. Initially, the fund will seek opportunities in Austria, the Czech Republic, Germany, Poland, and Slovakia.

ETIP intents to purchase a majority stake in companies specializing in smart technologies, data centers, cybersecurity, the Internet of Things, and customer-service platforms.

"The successful launch of the jointly owned SafeDX data center and the excellent results achieved by KKCG and Foxconn through cooperation on technology and business-related issues have motivated us to further develop our partnership. Another step in our collaboration will be establishing a joint fund focused on investing into IT, through which we aim to accelerate investments into the fast-growing information technology segment and such rapidly developing trends as IoT and smart technologies. KKCG possesses the investment know-how and is well familiar with the Czech and Europe-wide IT market. We trust that combining our experience with our partner's size, research and development abilities, and production capacity in Europe and Asia will bring interesting results," explained Head of ICT Martin Chládek who is responsible for the management of the project on KKCG's behalf.

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March 25 2017 3:01 PM V8.0.2-2