Actu
Blancco Management Buys Back Remaining Shares from Investors, Canelco Capital
May 2010 by Marc Jacob
Blancco announced that the management team has bought back remaining shares from Canelco Capital, which held roughly 25% of Blancco shares. Blancco has enjoyed significant growth over the past few years and this strategic move is a testament to the company’s success.
The buy back of shares will allow Blancco to better execute its long term development goals and help the company move forward as the world leader in its field. During 2004-2008, Blancco experienced phenomenal total growth of 180% according to Deloitte. In December 2009, Deloitte ranked Blancco one of the fastest growing technology companies in Finland.
After the transaction, Blancco’s Managing Director and Chairman of the Board will own roughly 75% of shares. The Operational team is committed to the long term development goals of Blancco and this move paves the way for greater success. The terms of the agreement remain confidential.
