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"Most firms we spoke with would say they knew people in this industry or that. In the end, we found that Fidelity Growth Partners Europe were the ones that could open the doors for us." Kevin O'Leary, CEO, Qumas
Fidelity Growth Partners Europe announces sale of portfolio company NewBay to Research in Motion
Date:
Mon, 07/11/2011 - 12:00
November 7, 2011 – Fidelity Growth Partners Europe (FGPE) has announced the sale of portfolio company, NewBay, to Canadian smartphone maker, Research in Motion for an undisclosed sum.
FGPE led a $6.5million round of Series B funding in 2008 with existing investor Balderton Capital. Balderton first invested in the company in 2003. Simon Clark, managing partner at FGPE joined the company’s board of directors.
Simon Clark, board member from Fidelity Growth Partners Europe stated: “We want to congratulate the entire NewBay team for what they have achieved. We are delighted to have been one of the investors in such a forward-thinking company and we wish them every success in the future.”
About NewBay
NewBay enables operators and device makers to deliver a lifetime of digital content experiences across any connected device such as mobile, PC, tablets and TV. The NewBay LifeCache white label software platform powers cloud-based services for storing, sharing, accessing and organizing digital content. NewBay LifeCache enables customers to monetize a wide range of branded services such as social networking, photo and video albums, digital vault, notifications and converged messaging.
NewBay is delivering highly successful commercial services for operators and device makers worldwide. Customers include T-Mobile, Telefónica O2, Orange, U.S. Cellular, AT&T, Telstra, Verizon and LG Electronics. NewBay LifeCache is processing millions of messages daily and stores billions of media for live operator and device maker services.
NewBay is based in Dublin, Ireland; Seattle, USA; Atlanta, USA; London, UK; Dusseldorf, Germany; Sydney, Australia and Seoul, South Korea. NewBay was founded in 2002.