Swedish Startup Space

Swedish tech company CLX to enter the stock exchange

Written by on September 17, 2015

Sources: They initiate meetings with investors next week to discuss the IPO.

Kista-based CLX was founded in 2008 and has since become the worlds leading company at handling SMS. The company is a global supplier of cloud-based mobile telecommunications for companies and mobile operators. Operating under the trademark Symsoft, the company also develops infrastructural solutions for mobile operators. The company’s growth however is largely driven by the handling of company texts. They deal with, for instance, banks, airlines or clothing store chains who want to communicate with their customers through sms.

CLX will distribute 5 billion corporate announcements this year. The company is paid for each sent message and sales have increased substantially the past year. Turnover the last fiscal year, which ended on the last day of June, landed at $102 million, which means they have more than doubled in two years. Gross profit was $11.3 million during the same scope.

Björn Zethraeus and Johan Hedberg started CLX in 2008 with Henrik Sandell, Kristian Männik, Robert Gertsmann and Kjell Arvidsson. They all have a background within the telecommunications industry, most of them at Ericsson. This meant that they were acquainted with many of the representatives for network operators and these contacts would prove to be very valuable.

“We signed contracts with several large operators relatively quickly because we had a huge network of contacts from the start. People trusted us and with the contracts in place we could begin the distribution of messages and earn money”, financial manager Björn Zethraeus said to Breakit and was reported in our article last spring.

Björn Zethraeus declared at the time that the stock exchange was one of several options being considered, but Breakit and Swedish Startup Space can now reveal that everything is set for a listing.

Carnegie and Handelsbanken have been engaged as financial advisors for the transaction and earlier this week, a series of the larger customers at these banks were notified about the plans for listing. Starting Monday, singled out investors will receive a presentation about the company in what is called pre-marketing, ahead of the listing, a listing which will probably happen on the Stockholm stock exchange during October.

The price-tag for CLX is yet to be announced but according to our sources most signs say that the market value will end at, between $121 million and $242 million.

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