Prime Technology Ventures, a Netherlands and UK-based venture capital (VC) firm which has a strategic relationship with Dutch conglomerate Philips, has sold its 43% stake in web analytics and video measurement tool developer Nedstat.
Nasdaq-listed trade peer ComScore bought the Prime stake for $36.7m.
Prime had held a stake in the company since 2004 when it invested as part of a €1.5m equity round alongside Synergia Capital Partners and was the only remaining institutional stakeholder in Nedstat. A further €9m was raised the following year, three years before Philips became a strategic investor in Prime as part of a deal to spin out five of its incubated technology companies to be managed by the VC.
Sake Bosch, managing partner of Prime and a supervisory director of Nedstat since 2004, said, "It’s highly rewarding for us to see that Nedstat today is recognized as a global leader in the web analytics field and we are pleased with the great return on our investment."