Norwegian video conference company founded in 2012 by entrepreneurs with a background from the video pioneer Tandberg.
Merged with Videxio, also founded by Tandberg veterans, in 2018.
Creates a platform and solution for video conferencing for the professional market, where quality and security are important.
Among other things, the platform makes it possible to communicate together across technologies and platforms, for example by allowing a Teams user on mobile to connect to a Cisco conference. Also used as infrastructure with integrations into other platforms.
Global customer list within, among others, health, justice, authorities, finance and retail, with international actors such as Nasa, the British judiciary and the European Commission.
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The share price has fallen close to 90 percent
However, the loss in value is small compared to the total loss in the share. At most, the Veen family has had Pexip shares worth NOK 633 million – when the share price peaked at the end of February 2021. For these shares, the TD Veen group paid a total of NOK 447.7 million – which thus constitutes a return of 41 percent – on paper.
Since then, the share price has fallen just below 90 percent. The company now has a market value of NOK 1.2 billion.
The company was long cheered by enthusiastic analysts with high price targets, but the company has delivered results well below its own targets – which has caused a number of investors to shadow the course. In the last six months, the prospect of interest rate hikes has also severely affected the pricing of growth companies whose income is typically well ahead of time. Pexip no exception.
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At the same time, investors have moved towards energy shares and more solid, stable dividend payers – and turned away from growth companies where the potential return may be greater, but the risk is the same.
From the price peak until now, the TD Veen group has both sold down and bought up in several rounds, according to Holdings. It has sold Pexip shares for a total of NOK 87 million, and bought Pexip shares for a total of NOK 42.8 million.
As of 3 August, the company owns both more Pexip shares and a larger share of the company’s shares than ever before. At the same time, the stake is now worth NOK 74.5 million, less than ever before.
Losses in several companies
However, TD Veen has made paper losses in more companies than Pexip. The company invests exclusively in green companies and companies that “should benefit society”, – such companies typically reached a peak in the late winter of 2021 and have since crashed on the stock market. Especially in the first half of 2022.
When DN spoke to chairman Silje Veen at the end of June, she said the following:
– We can say that we are okay with that. It is always difficult with such cases, but unfortunately it is not the case that prices up and down say everything about how the company is doing. We try to look at the underlying operation. The world doesn’t need less video conferencing equipment or products that Quantafuel contributes to. That is why we are okay with what has happened, said Veen.
– I’m getting quite “competitive” that we should help turn that around, she added.(Terms) Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links, which lead directly to our pages. Copying or other forms of use of all or part of the content can only take place with written permission or as permitted by law. For additional terms se her .
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