Polopoly, a Swedish CMS provider has been acquired by UK based Atex, a technology solutions provider for media companies. The move comes after a year long search by Atex for a content management vendor. Atex plans to use Polopoly's Content Manager to boost their Digital News and Advertising program.
Founded in 2000, Polopoly is an entirely self funded company consisting of 55 employees and two offices: one in Stockholm, Sweden and another in London.
Since its inception, they have gone on to become Scandinavia's largest content management vendor, working with a large variety of clients such as CN Group, Belgian media group Cornello and most recently MTV Networks, who is partnering with Polopoly to provide the back-end for its College Publisher platform, used by over 550 college newspapers.
In 2007 Polopoly made news when they partnered with Metro Nordic, a Scandinavian newspaper, to provide a pay per view blogging system for their "citizen journalists".
Atex has big plans for Polopoly; part of their goals with this acquisition is to make Sweden the heart of their new technology initiative, a process that began early last year with the acquisition of Mactive, an advertising system also based out of Sweden.
With Polopoly now a part of Atex, the goal is is for 50% of Atex's revenue to come from digital media by 2011. They believe that with their global reach, they can take Polopoly's already popular service out of Scandinavia and into the rest of the business world.
John Hawkins, Atex Group CEO says: "..we can add the necessary packaging and infrastructure to enable Polopoly to become the world's largest vendor for business-critical content management, irrespective of industry, irrespective of geography."
Polopoly CEO Gustaf Sahlman is looking forward to being able to be less cautious on spending money at his self financed company; he says: "Being part of the Atex Group makes it possible for us to invest much more in R&D and product development. There is a technology and know-how fit between the Atex and Polopoly which makes it possible to move forward at full speed."
Atex provides software solutions to the global media industry. They have over 800 media clients around the world and provide support for advertising, content management and circulation.
Both Polopoly and Atex will be coming to the United States as part of the Nexpo show in Washington, DC from April 12-15, 2008.
You can read more about the acquisition at Polopoly's site) .