Growth equity firm Time for Growth has paid $11m for for a 10% stake in TeliaSonera-backed consumer electronics manufacturer Zound Industries.
Zounds Electronics, a Sweden-based consumer electronics producer backed by telecommunications firm TeliaSonera, has secured €10m ($11m) in funding from growth equity firm Time for Growth.
Founded in 2008, Zound produces and sells music hardware including headphones or loudspeakers under a variety of brands in some 20,000 stores across 95 countries.
Time for Growth acquired a stake sized at appproximately 10% through the deal. The investment will enable Zound to diversify and support further expansion as the company prepares to launch…
