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Appello closes investment round
May 10, 2007 |
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Company: Appello
 PRESSRELEASE Gothenburg, Sweden May 10, 2007 Appello closes investment round Capital injection provides resources to accelerate international expansion Appello has completed an investment round targeting existing and new investors. The capital injection will provide resources for the company to increase its sales and marketing activities of WISEPILOTTM – a server based online navigation solution for mobile phones and PDAs that is distributed mainly via Appello’s customer base of mobile operators. Appello Systems, a leading provider of online mobile navigation, has had a positive development from its start in 2004. The company focuses on offering the markets most attractive and efficient navigation service for mobile phone users via market leading partners such as mobile operators, service providers and distributors. The market for mobile navigation is expected to show a very strong growth in 2007 and onward. The newly completed investment round has been signed by actors with a capital base of over 2 billion SEK and will provide Appello with increased resources to further develop its marketing and sales organization. “Appello is market leaders in Northern Europe for mobile operator branded navigation solutions, says Martin Svensson, CEO at Appello. We continue to develop Wisepilot and our related services. One of the most important success factors will be the development of neighboring services and concepts that enhance the navigation experience for the end-user. Appello was for example the first company to offer the ability for users to search for destinations and information in online databases with yellow and white page information and to offer precise and active traffic safety camera alerts as part of its mobile phone based navigation service. In 2007 we will launch a set of rich content services in cooperation with leading content providers. Together with our partners we deliver a highly appreciated service and we have put ourselves in great position for continued expansion. With this capital injection and the active involvement from our owners we are able to increase our already high pace when it comes to sales and marketing”, concludes Martin Svensson. “Appello has with its navigation service in a short time established itself as one of the absolute leading actors in online mobile navigation”, comments Ulf Ivarsson, Executive Chairman of Appello. Our organization is regarded as the most efficient in the industry, especially when it comes to product development. With this investment round and collaboration with Appello’s owners we will now be able accelerate our international expansion.” For further information, contact; Martin Svensson, Chief Executive Officer, Appello Systems AB Mobile +46 730 255 299 E-mail: martin.svensson@appello.se Ulf Ivarsson, Chairman, Appello Systems AB Mobile +46 705 91 28 95 E-mail ulf.ivarsson@bl-iv.com About Appello and Wisepilot Appello is a leading provider of mobile GPS navigation services and offers turn-key solutions to mobile network operators, handset manufacturers, automotive OEM and enterprise customers. Appello has developed WISEPILOT™, a unique and award-winning navigation platform for mobile devices and solutions providing applications to the automotive and telecom industries. Appello's customers include some of Europe's largest mobile network operators, telecom distributors, mobile phone manufacturers and telecom system integrators. Appello has its headquarters in Gothenburg, Sweden. For more information, visit www.appello.se | www.wisepilot.com Leif Sundström (leif.sundstrom@appello.se) |
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