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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