STOCKHOLM -- Pod Venture Partners, today announced that the company is the new principal owner of Transmode, a leading provider of optical networking solutions. Following the transaction, the venture capital firm Pod Venture Partners, part of the Swedish Douglas family group of companies, will be the largest shareholder in this successful and prize-winning company with a 42 per cent participating interest.

"Transmode is one of the most interesting technology companies in Europe right now. Since the company started in 2000, it has grown to become Sweden's second largest provider of telecom equipment. Despite the recession, it is one of the most profitable companies in the sector and, although 2009 will be something of an off year for the sector as a whole, Transmode's profitability remains good. It was therefore an obvious decision for us to increase our ownership when the opportunity presented itself," says Tom Nyman, partner at Pod Venture Partners and member of Transmode's Board of Directors.

Other shareholders in Transmode include Amadeus Capital Partners, HarbourVest and European Equity Partners. It was a combination of private and institutional investors, who decided to sell parts of their holdings in the company to Pod Venture Partners.

"We welcome Pod's decision to increase its ownership. Pod has been with us since 2003, and their long-term and active ownership has in many ways helped to give Transmode a stable foundation for the future," says Kent Sander, Chairman of the Board of Directors of Transmode.

Pod Venture Partners AB

Transmode Systems AB