€6.00M Financing for Keyware Technologies (EURONEXT Brussels : KEYW)

In 2000 Keyware Technologies had been one of the fastest growing tech companies is Europe with sales over €25 million. In the wake of the global tech slow down, the firm fell on very hard times with sales slumping to €5.6 million in sales and faced bankruptcy. Newly appointed CEO Stéphane Vandervelde oversaw a bold restructuring of the firm and brought Keyware back from the brink of bankruptcy. In June 2006 the firm completed the sale of two divisions so that it could focus on developing its profitable payment-terminal applications. However, Keyware required significant growth capital to execute its business plan. In September 2006 Palladium acted as co-placement agent with Goldhar & Co. to complete a €6 million convertible debt financing.