Abstract:
In this paper we will discuss about the recent business deal made by New Bay software. Two big companies, namely, Boston, MA and Fidelity Ventures invested almost 9.88 million dollars in New Bay along with the other existing investor Balderton Capital. The company (New Bay) wants to expand its business in many other countries. In addition to that, through this deal, New Bay will be able to spend more in research & development.
In March 2008, New Bay Software disclosed its business deal with Boston, MA and Fidelity Ventures, a London based company. New Bay software is a leading digital lifestyle solutions provider in the world.
New Bay received 6.5 million euros, or 9.88 million dollars, from the two above mentioned companies. The original investor was Balderton Capital, previously known as Benchmark Capital, who had started to invest in New Bay in 2003. Balderton Capital is now one of the biggest venture capital firms in Europe. Since the beginning of the 21st century, it has invested in more than 70 companies across the world.
New Bay aims to open some new development centers in several countries, that is, it wants to expand. Through this deal the company will be able to spend more in Research & Development and explore the opportunities of acquiring some medium scale companies.
However, the company has got success working collaboratively with some leading global operators. NewBay LifeCache product is a good example of that. It is now empowering the operator services and have more than 250 million subscribers across the globe. Moreover, New Bay' client list consists of the likes of T-Mobile, Vodafone, Telefonica and Orange.
Fidelity Ventures usually invests in those software companies who want to enter into the information technology market. It has been successfully investing into the software and communication markets for the last forty years. For the 2007 financial year, the total amount of revenue generated by the company was almost 800 million dollars.