Intel Capital invests in NeuString
Mobile phone billing analysis software company is latest Middle East investment for Intel Capital
Intel Capital has announced its sixth investment in the Middle East region, through a stake in telecommunications analysis software company NeuString.
The investment, the value of which was not disclosed, will be used by Dubai-based Neustring for regional growth and development and to expand its product portfolio.
NeuString produces billing software which gives mobile network operators instant analysis of billing to improve financial performance. The company's software suite Optiprizer has been designed to allow designing of complex price plans; simulation, monitoring and benchmarking of pricing alternatives; revenue leakage identification; micro segmenting, profiling of mobile users and future profit impact prediction,.
Nikolaj Aertebjerg, CEO of NeuString said: "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. "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."
Intel has invested "several millions" of its $50 million Middle East and Turkey fund, which was first announced in 2005.
"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."