DECA Investments

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December 15, 2016

DECA Investments AIFM, the exclusive investment manager of Diorama Investments SICAR (“Diorama” or the “Fund”), announced the completion of the Fund’s third investment: the acquisition of a strategic equity position in InternetQ Group Limited (“InternetQ” or the “Company”) indirectly through one of the holding companies of InternetQ, for a consideration of EUR 12mn. Concurrently with the investment the funds will be invested into InternetQ through a capital increase.

InternetQ, employing 230 people, is a Greek company with a truly global presence and client base. It has two main lines of business: a music streaming service, which provides unlimited music tracks for a monthly subscription, and a software designed to bring together advertisers and publishers, thus facilitating advertising in mobile applications (“in-app advertising”). Both products operate in global and rapidly expanding sectors, which are expected to exceed a 20% annual growth rate in the next several years. The investment by Diorama will enable InternetQ to further strengthen its presence in the rapidly growing in-app advertising sector, which is expected to reach $ 125bn in size by 2018.

The investment in InternetQ fits Diorama’s strategy: making equity investments in growing, extrovert Greek companies. Diorama’s objective is to help the investee companies capitalize on their competitive advantages and become important players in the international arena.

Mr. Panagiotis Dimitropoulos, InternetQ’s Chief Executive Officer stated: “We are delighted with the completion of this landmark transaction and welcome Diorama Investments SICAR as business partners. InternetQ historically focuses on technological innovation and strategic partnerships which secure a long term success. This new funding fosters our development and enables us to substantially accelerate our growth plans across target markets. It allows us to further improve the functionality of our product offerings and capitalize on the considerable opportunities of the in-app advertising sector, where we build and strengthen a market-leading position.”

Konstantinos Dermanis, DECA Investments AIFM Partner stated: “InternetQ’s characteristics are fully consistent with Diorama’s investment strategy. InternetQ is a dynamic Greek technology company with a truly international presence enjoying a strong position in two rapidly growing sectors. We believe that InternetQ’s management team has the experience, track record and know-how to help the Company grow over the next years. Our investment will help it strengthen its positioning in the fast growing and profitable digital advertising sector, and in particular in-app advertising.”

The investment in InternetQ is the third investment of Diorama Investments SICAR. The investment fits Diorama’s strategy, which is to provide growth capital to export-oriented Greek companies. In November 2015 Diorama announced its first investment in Atlas Tapes S.A., a growing Greek company involved in the production and trading of adhesive tapes and other packaging material. This was followed last March by an investment in Damavand S.A. a leading agricultural company involved in the processing and packaging of tomato based products.
Diorama Investments SICAR is a growth fund with EUR 135 mn commitments established in Luxembourg in September 2014. Its goal is to make equity investments, usually through a capital increase, to Greek small and medium enterprises. Diorama’s shareholders comprise prominent Greek and international investors including the European Investment Fund, The European Bank for Reconstruction and Development and the European Investment Bank. Diorama is managed by DECA Investments AIFM, which is regulated by the Hellenic Capital Markets Commission.
This investment benefits from the support of the European Union under the Equity Facility for Growth established under regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Program for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020).

This investment benefits from the European Fund for Strategic Investments, one of the pillars of the Investment Plan for Europe. The Investment Plan for Europe focuses on strengthening European investments to create jobs and growth.