Creating opportunities for change
L1 Technology has a 47.85% voting stake in VEON, the global telecoms company headquartered in Amsterdam, and a 19.8% stake in Turkcell, Turkey’s leading telecoms operator.
"VEON made good progress with successful restructuring of its non-CIS subsidiaries holding structure and massive HQ simplification. 2019 financial targets were met or acceded despite challenges in Russian business"Alexander Pertsovsky Managing Partner L1 Technology
L1 Technology Investments
L1 Technology continues to actively look for investments in the broader technology space in the EMEA region with a particular focus on the following areas: 1) Software, 2) Digital Platforms, 3) Tech Enabled Services and 4) Data & Information Platforms. L1 Technology has a flexible holding period and typically looks to deploy at least USD $100 million as a majority or large minority shareholder in profitable businesses.
Qvantel, a provider of BSS (business support system) solutions for telecoms, continues to be focused on developing its next-generation BSS product and executing a number of large customer deliveries. 2019 was a significant year for the company, marked by multiple successful customer deliveries, surpassing €100m revenue, and achieving meaningful profitability.