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TNO sells majority shareholding in TNO Bedrijven BV to First Dutch

Connecting platform for business and applied R&D • 19 Dec 2016

TNO and First Dutch have signed a agreement for the sale of the majority of shares in TNO Bedrijven BV by TNO to First Dutch, the innovation platform of entrepreneur Peter Goedvolk. The actual transfer will take place after it has been approved by the ACM. This strategic partnership will give a further boost to the financial and commercial muscle of TNO Bedrijven.

TNO Bedrijven will continue under the name of First Dutch Innovations.

On the first row from left to right Paul de Krom, CEO of TNO and Peter Goedvolk of First Dutch. On the second row Cis Marring, CFO of TNO and Sonja Vos-Poppelaars, CFO of TNO Bedrijven BV

“First Dutch Innovations will give both the current portfolio (27 companies and around 1100 employees) and start-ups access to capital and knowledge so that they can make an effective and successful start and develop into innovative companies with impact in the market. The revenue will enable TNO to further enhance the transfer of new technology and thereby strengthen the innovation flywheel,” says Paul de Krom, CEO of TNO.

Platform focused on the long term

Following an extensive market survey by TNO together with financial consultant Vondel Finance, First Dutch was ultimately selected as the most suitable party. First Dutch Innovations will become a broad valorisation platform for innovation within the Netherlands and thus provide a sustainable boost for the Dutch innovation economy, supporting and encouraging young technology-driven Dutch companies in particular.

Financial details of the transaction will not be made public. TNO will remain an integral player in the new company as a key minority shareholder.

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