ASK FUNDING
Sophia Antipolis-based ASK has closed a new round of financing of
US$15.8 million. Apax Partners enters into the capitalization of ASK
alongside three existing investors that contributed $3.2 million to this
round, CDC-Ixis Innovation, Credit Lyonnais Private Equity and the Banque
de Vizille. New investors AdAstra and iglobe partners invested $4.9
million in this round. Other existing investors are Advent Venture
Partners and LongTerm Partners. The additional funding enables ASK, which
will approximately double its sales to $20.9 million this year, to
accelerate its already strong growth. The investment comes at a time when
the worldwide market is developing rapidly, growing 46% in 2001 and
forecast to grow 58% in 2002. ASK will utilize the new capital to expand
its production capacity and to accelerate its international sales activity,
particularly in America and Asia.