STOCKHOLM, Dec. 18, 2017 /PRNewswire/ --
The EIB and Clavister have signed a EUR
20 million financing agreement which will help the company
to develop advanced cybersecurity software and hire new computer
experts. The agreement was made possible by the European Fund for
Strategic Investments (EFSI), the central pillar of
the Investment Plan for Europe, launched by the EIB Group and the
European Commission to boost the competitiveness of the European
economy.
Digitalisation creates new opportunities for the way public
institutions and businesses work, interact and communicate. But it
also brings new risks: while ransomware attacks have increased by
300% since 2015, the economic impact of cybercrime rose fivefold
from 2013 to 2017. 87% of Europeans regard cybercrime as an
important challenge to the EU's internal security.
Clavister's products protect networks from hacker attacks and
other digital security threats. The company is one of only three in
Europe that feature in the top 20
cybersecurity businesses worldwide and successfully compete in a
US-dominated market. In particular, the financing will support
Clavister's growth ambitions. Investing in further product
development and innovation are focus areas for staying at the
forefront of technology. In addition, the company will
substantially expand its sales and marketing presence to
successfully take the products to market.
"Securing network and information systems in the EU is essential
to keep the online economy running and to ensure prosperity", said
EIB Vice-President Alexander Stubb,
responsible for EIB operations in Northern European countries. "I'm
proud of our support to innovative companies such as Clavister, as
this deal will help foster digital know-how and skilled employment
in Europe and make our digital
lives safer."
"We're extremely pleased to have the EIB as our financing
partner to help us attain our main corporate objectives of
increased market share and customer satisfaction. The commitment
shows not only an investment in our company, but one that grows the
field of European cybersecurity in terms of importance and global
competitiveness", stated John Vestberg, President and CEO of
Clavister.
The deal with Clavister is special in that it makes use of the
new EIB venture debt product, which combines the advantages of a
long-term loan with a remuneration model based on the company's
performance. Any such transaction helps to strengthen the
borrower's economic capital. The Investment Plan for Europe allows the EIB to step up investment in
highly innovative companies that previously would not have been
eligible for EIB financing.
Background information:
About the EIB
The European Investment Bank (EIB) is the long-term
lending institution of the European Union owned by its Member
States. It makes long-term finance available for sound investment
in order to contribute towards EU policy goals. In 2016, the EIB
provided Swedish projects with loans totalling almost EUR 1.9 billion.
About the Investment Plan for Europe
The Investment Plan for Europe focuses on strengthening European
investments to create jobs and growth. It does so by making smarter
use of new and existing financial resources, removing obstacles to
investment and providing visibility and technical assistance to
investment projects. The Investment Plan is already showing
results. The projects and agreements approved for financing under
the EFSI so far are expected to mobilise EUR 256 billion in
total investments across 28 Member States and support 540 000
SMEs.
On 12 December 2017, the
European Parliament voted to extend and enhance the European Fund
for Strategic Investments (EFSI), the central pillar of the
Investment Plan for Europe. The
EFSI 2.0 Regulation is expected to enter into force on 1 January 2018. As well as extending the timeline
from mid-2018 to the end of 2020, it will increase the investment
target from EUR 315 billion to at least EUR 500
billion.
Find the latest EFSI figures by sector and by country here. For
more info, please see the FAQs.
Press contact:
European Investment Bank:
Jan Gerrit Wnendt
j.wnendt@eib.org
Tel.: +352-43-79-82227
Mobile: +352-691-284-340
Website: www.eib.org/press
Press Office: +352-4379-21000
press@eib.org
Follow us:
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Clavister
John Vestberg
President and CEO
Email: john.vestberg@clavister.com
European Commission:
Siobhan Millbright
Tel: +32-22957361
e-mail Siobhan.millbright@ec.europa.eu
Website: www.ec.europa.eu/invest-eu
Follow us on Twitter @EU_Commission #investEU
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/clavister/r/investment-plan-for-europe--eib-lends-eur-20-million-to-swedish-cybersecurity-specialist-clavister,c2416900
The following files are available for download:
http://mb.cision.com/Main/9441/2416900/768507.pdf
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