NeuString is the sixth company in the Middle East to receive funding from Intel Capital this year
DUBAI, United Arab Emirates, Nov. 18, 2009 – Intel Capital, Intel Corporation’s global investment organization, today announced an investment in NeuString, a leading UAE-based telecommunications analyst software company. With this investment Intel Capital reaffirms its dedication to foster technology innovation in the Middle East region.
The funding from Intel Capital will assist NeuString in pursuing regional growth and development plans in addition to extending the company’s product offerings. The amount of the investment was not disclosed.
“Intel is committed to the growth of the Information and Communication Technology ecosystem across the Middle East”, commented Feroz Sanaulla, Intel Capital regional director for the Middle East, Turkey, and Africa. “Today’s announcement underlines this commitment and further expands Intel Capital’s investment portfolio in the region”.
NeuString is a billing software company dedicated to delivering predictive analytics solutions and consulting services to mobile network operators to help them achieve greater financial performance. With offices in the United Arab Emirates, Denmark, Russia, and Ukraine, NeuString has experienced teams who have been active in the telecommunications industry for more than two decades.
“We believe that analytics and the ability to identify and accurately predict future revenues and profits is becoming increasingly important in the very competitive environment of mobile telecommunications,” said Nikolaj Aertebjerg, Chief Executive Officer, NeuString. “We value Intel Capital’s investment and support to help expand our product offerings and ultimately achieve our goal of becoming a global leader in telecommunications analytics space worldwide”.
The investment in NeuString follows five previous Intel Capital investments in the Middle East this year: two Jordan-based digital content companies − Jeeran and ShooFeeTV; and three UAE-based technology companies – Conservus International FZ-LLC, Pulse Technologies FZ-LLC, and Vertex Animation Studio FZ-LLC.
Under the Intel Capital program, Intel plans to continue supporting local entrepreneurship in the Middle East through its investments in education, digital accessibility and specialized technical competencies. The purpose of doing so is to help promote technology skills, knowledge transfer and job creation in the region. Intel additionally works with local governments, educational institutions, businesses, non-governmental organizations, program developers, local businesses, and other groups to highlight and demonstrate the benefits of technology.
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About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$9.5 billion in over 1,050 companies in 47 countries. In that timeframe, 175 portfolio companies have gone public on various exchanges around the world and 241 were acquired or participated in a merger. In 2008, Intel Capital invested about US$1.59 billion in 169 investments with approximately 62 percent of funds (excluding Clearwire) invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
NeuSring is a privately held billing software company dedicated to delivering Predictive Analytics Software and Consulting Services to Mobile Network Operators. NeuString’s software suite, Optiprizer, allows for a precise and instant data analysis; designing of complex price plans; simulation, monitoring and benchmarking of pricing alternatives; revenue leakage identification; micro segmenting and profiling of mobile users; and not least predicting and even prescribing future profit impacts. With the Optiprizer software suite Mobile Network Operators are able to make concrete strategic decisions based on clear and tangible business insights in an unparalleled short time to market. The NeuString Optiprizer suite makes competing on analytics the key competitive factor for Mobile Network Operators. NeuString is an active associate member of the GSM Association.
NeuString is owned by a group of international private and institutional investors. NeuString’s investors have been active in the telecommunications industry for more than two decades.
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