ComX Networks raises investment from Danish IT billionaire  

2005.12.22
ComX Networks, a Danish broadband company has gained a DKK 25 m investment from Finn Helmer, the Dane who sold his chip company Giga to Intel in 2000 for around DKK 10 bn

ComX Networks, a Danish broadband company based near Copenhagen has gained a DKK 25 m (USD 4 m) investment from Finn Helmer, the Dane who sold his chip company Giga to Intel in 2000 for around DKK 10 bn (USD 1.6 bn). Finn Helmer takes over the position as chairman of the board. ComX Networks has raised DKK 44 m (USD 7 m) in new capital in the last month, and has also appointed a new MD.

Finn Helmer says his vision is that all Danish households will have broadband connections of 10 Gbit/s, and that he wants to help to make Denmark the world's leading IT nation.

"I have now actively started investing in rolling out my vision and ComX will be the springboard. Now we have achieved the right set-up for the board, the investors and the senior management. Our current investment ensures that the company can run next year without further capital", he says. The news was reported by financial daily newspaper Børsen.

ComX Networks supplies flexible broadband solutions via its own fibre cables. The company was established in 2002 and employs 240 people. ComX Networks has developed a TriplePlay solution which integrates telephony, internet and TV.

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