First exit from Chalmers Innovation model – $11M sale of start-up

First exit from Chalmers Innovation model – $11M sale of start-up.

Chalmers Innovation is the leading business incubator in Sweden and a pre seed investor. The business incubator development process focuses on the development of ideas, people and companies with technology background creating spin-outs from academia and established companies. Since the inauguration in 1999 Chalmers Innovation has been involved in 75 projects that have resulted in 55 new technology based companies.

The sale of System OK is the first major exit for the new innovation system that has emerged around Chalmers University of Technology during the last six years. The sellers are the management team and the founders of the company, the business incubator Chalmers Innovation and the seed investor Innovationsbron West.

The Swedish start up company System OK has been sold to Sonic Solutions (NASDAQ: SNIC), for approx. $11 millions. System OK will maintain its operations in Gothenburg as a subsidiary to Sonic Solutions.

Source: Chalmers Innnovation, News