Telecommunications equipment supplier LM Ericsson Telephone, venture capital firm B-Business Partners, and Swedish bank Skandinaviska Enskilda Banken AB (SEB) yesterday announced the formation of the Nordic Commerce Exchange (NCE), an online marketplace for buying and selling non-production goods and services in the Nordic region.
The three partners will initially invest 15 million euros ($US14.3 million) to set up the exchange -- for goods and services not used in mission-critical production processes -- which they plan to take public within the next few years, Ericsson said in a statement.
The Nordic market for non-production goods and services, including travel and consulting services, PCs and other office supplies, is valued at 240 billion euros, and the exchange will also provide financial and logistics services, Ericsson said.
NCE will be headed by chief executive officer Hans Ahlinder, a former Ericsson executive.
B-Business Partners is a venture capital company dedicated to investing in European business-to-business e-commerce companies. It was formed in March with an initial capital base of more than 1 billion euros, supplied by a group of founders led by Swedish holding company Investor AB and Zurich-based conglomerate ABB Ltd. Incorporated in the Netherlands, B-Business Partners has offices in Amsterdam, London and Stockholm.