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Ataxo sell share for 220m

Even in the time of crisis, one can sell a part of a company for over 220 million Czech crowns. The Internet company Ataxo has sold a minority share to the investment fund Garvest.

“There were several investors interested but we opted for the one who will help us to grow further,” says Pavel Doležal, the company's CEO and one of the founders. Ataxo, specialising in developing websites and Internet marketing, is currently focusing mainly on developing its Polish branch. “We are looking into possibilities in three countries in Eastern Europe, although we have been only testing them so far,” Mr Doležal implies on further plans.  

“We have decided to invest in Ataxo since it is ahead of the market through its innovations . Besides, they have already managed to repeat the success of their business model in three countries. This provides a very solid base for further growth,” Arthur van Wijck Jurriaanse, Garvest's CEO, explains the reason for their investment.

Source: ihned.cz, 15.10.2008