|
Dublin-based mobile software company MobileAware has announced that it has secured EUR7 million in funding from new and existing shareholders.
The new funding is expected to support the company past the break-even point and into profitability. The existing shareholders, who include Intel Capital and Cross Atlantic Capital Partners, will reinvest in MobileAware. The new funding round also includes Bank of America Capital Partners and AIB Equity, and IBI Corporate Finance advised MobileAware on the funding process.
MobileAware develops middleware for mobile telecom operators, which allows them to distribute Web applications and content across various media and across different networks.
The Company's flagship product is Everix, an open-standards platform for developing and delivering multi-channel Web applications. It provides an integrated development environment for creating Web, wireless, iTV and voice services, eliminating the need to replicate services for different delivery channels, the company said.
"Very soon, people will stop talking about the mobile Internet because the Internet will be multi-channel," said Gerry McCrory, managing director of Cross Atlantic Capital Partners. "Our decision to increase Cross Atlantic's stake in MobileAware highlights the confidence we have in the company becoming a leading international player in this very dynamic market."
MobileAware's customers include 3G operators OniWay in Portugal, Xfera Moviles in Spain and international network infrastructure giant Nortel Networks.
MobileAware was established in April, 2000. The company is based in Dublin and has offices in Paris, London, Madrid and Munich.
|