November 9th 2010
Sardis advises Airties on financing
The U.S.-based independent private equity fund, Invus, which manages $4 billion in assets, has made its first investment in Turkey in AirTies, thus undertaking one of the first foreign investments in Turkey on high technology, according to a press release.
Airties will channel this funding to the European, Middle Eastern and African market, the press release said, adding that the investment would also aid Airties in research and development, and sales and marketing studies. AirTies is aiming to be one of the strongest actors in web-based TV technology known as IPTV.
"Evaluating the investment, Invus Group partner Evren Bilimer said they predicted a revolutionary change in the next five or 10 years in home-used Internet-based technologies like IPTV. "We have conducted research in the last two years to find the most suitable company among all those in the Silicon Valley or in many other technology hubs in order not to miss our chance to benefit from this highly promising market."
He said AitTies would continue to present products and services that facilitate using televisions for Internet purposes.
Sardis Capital acted as exclusive advisor to Airties.