Briefs: Amadeus invests in EnQii; Administrators appointed at Plasmon
Amadeus Capital Partners and Wellington Partners have invested $18m in a Series B round financing in EnQii Holdings Ltd, specialists in the management of digital out-of-home advertising and merchandising networks.
Amadeus Partner Roy Merritt and Wellington General Partner Frank Boehnke will join the board of the company. The investors will join Ithmaar Bank, Kingdom of Bahrain, EnQii's original investor. Carolyn Prowse, Managing Director, from Ithmaar Bank will also join the board.
EnQii works in partnership with advertising networks and retailers, providing a full managed service of design, installation, technology and operation of web-enabled digital displays. The company has over 100 customers in 14 countries around the world, who typically operate substantial estates of screens ranging from large LED or digital billboards to smaller shelf-located screens in retail environments. The new financing will be used to accelerate the company's growth.
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Administrators Peter Holder, Simon Freakley and Stuart Mackellar of Kroll's Corporate Advisory and Restructuring Group have been appointed to Plasmon plc, following its 29 September suspension of its listing.
The Administrators are continuing to trade Plasmon's UK and European sales and marketing division alongside the continuing operation of its US subsidiary, Plasmon Inc. This enables the ongoing sale and support of Plasmon products worldwide whilst a going concern sale of the business is explored. The Administrators are in discussions with a number of interested parties and are hopeful a sale of the remaining business can be achieved in a relatively short time frame.
The Administrators said they do not believe there is likely to be any value realised for Plasmon shareholders.
