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Creandum invests millions on music accessories for portable products

STOCKHOLM, Sweden and UK – 6 September 2007: Swedish company Jays, a designer and manufacturer of portable media accesories, has received a double-digit million investment from the venture capital firm Creandum. The investment will be used to ensure the continued growth and international expansion of Jays in the portable products market, which has a turnover of 7.5 billion Euros in Europe and USA in 2007.

Jays designs, develops and manufactures accessories such as earphones, headset adapters and other connection solutions for mobile phones, mp3 players and portable products. Founded in January 2006 by Jens Nylander, Jays surpassed revenues of €638,000 within its first seven months of business.

”The fact that Creandum has invested in Jays, shows not only trust in us as entrepreneurs, but also confirms that the Jays product portfolio is cutting edge,” says Jens Nylander, Jays’ founder and CEO. ”This investment will enable us to focus on gaining a sizeable proportion of this rapidly expanding market. Our international expansion plan will aim to increase our revenue to over 106 million Euros within the next five to seven years.”

Jays offers an extensive product portfolio of sleek, high quality accessories and will soon launch its latest earphone product q-JAYS, in the UK . Featuring advanced new technology, q-JAYS are the smallest and lightest headphone for portable products available on the market.

”Creandum is proud to announce that it has entered into this long-term relationship with Jays. It is line with our strategy of backing start-ups with innovative technologies, and experienced entrepreneurs targeting large and expanding markets. We’re very impressed with Jays’ stylish and innovative product lines - the Company and its entrepreneurs tick all the boxes,” says Martin Hauge, partner at Creandum.

The Swedish market for peripheral equipment for portable products is estimated at over 106 million Euros.

-ENDS-

FOR MORE INFORMATION, PLEASE CONTACT:

Jens Nylander, MD, Jays
Mobile: +46 (0)704 21 20 50
Email: jens@jays.se

Martin Hauge, partner, Creandum
Mobile +46 (0) 70 757 77 36
Email: martin.hauge@creandum.com

About Creandum

Creandum is an independent and partner owned venture capital firm that invests in Nordic companies in the technology sectors with 120 million Euros under management. Creandum started its operations in 2003 and today is the fastest growing independent partnership of its kind in the Nordic region. Creandum’s Fund II has among others, capital from the ”European Communities Growth and Employment Initiative, MAP - ETF Start-up Facility”. For more information, please visit www.creandum.com

About Jays

Jays is a customised design manufacturer (CDM) that designs, develops and manufactures portable media accessories for carriers, retailers and major brands. Jays stands for high quality and superior performance products which enable end-users to get the most out of their portable media devices – anytime, anywhere. Read more at www.jays.se

For further press information, please contact:

Nicky Atkins/Andrew Durkin
MUSTARD PR
T: +44 (0) 1628 502600
E: nicky@mustardpr.com / Andrew@mustardpr.com

This press release was distributed by ResponseSource Press Release Wire on behalf of MUSTARD PR in the following categories: Business & Finance, for more information visit http://pressreleasewire.responsesource.com/about.