17/11/2011 - SPARK realises its investment in Level Four Software
London, 17th November 2011 - SPARK Ventures is pleased to report the successful sale of Level Four Software, one of SPARK’s investee companies in the Quester Venture Partnership. Level 4 is a leading provider of development, deployment and testing products for ATM networks, and will be acquired by Belgian electronics payment outfit, Clear2Pay.
The profitable exit for Quester Venture Partnership was achieved after executing a turnaround strategy since 2008 against the backdrop of difficult trading conditions in the financial services sector.
Level Four's team of over 30 staff will be integrated into Clear2Pay's Open Test Solutions unit and will carry on working from their offices in Scotland, the United Arab Emirates and the US.
For more information, please contact:
Jay Patel
Tel: 020 7851 7777
About SPARK Ventures:
SPARK Ventures is a leading venture capital fund management company with investments in the life science, technology, media and telecom sectors. SPARK manages approximately £180m of funds on behalf of major institutional investors, an AIM listed investment company (SPARK Ventures plc), European institutions, Oxford University colleges and universities in the East Midlands.
During the last five years the SPARK team has sold several businesses to blue-chip trade buyers, including The Financial Times (Mergermarket), Ramboll (IMISoft), Oracle (Secerno), Metavante (Nomad), Thomson Financial (Complinet) and France Telecom (Unanimis).
About Level Four
Level Four is a leading independent provider of testing and development software solutions for all types of ATM networks worldwide, enabling banks and processors to maximise their existing investments in ATM technology. With over 10 years’ experience, Level Four has developed products that enable customers to deliver high quality business services at the ATM, using graphical development tools and by automating the labour-intensive testing process.
Level Four provides software solutions to a wide customer base including Abbey, Lloyds TSB, Nationwide, Den Norske Bank, Rabobank, LINK, Standard Bank of South Africa Bank and the Royal Bank of Scotland.