Creativity Software receives growth capital to accelerate worldwide expansion

Online, April 30, 2010 (Newswire.com) - London, United Kingdom, 23rd April 2010 - Creativity Software are pleased to announce that venture capitalist, MMC Ventures (MMC) has invested growth capital to accelerate the worldwide expansion of the UK based Location Based Service company.

Creativity Software has experienced rapid growth throughout the recession and is now poised to increase its share of the growing market for products based on location information. According to research undertaken by ABI Research, the global LBS infrastructure licensing market is forecast to grow from $560 million in 2010 to $1.8 billion in 2015. Creativity Software is quoted as one of three specialist providers in this market. ABI Research predicts that the global market for revenue from LBS applications is forecast to grow from $1.7 billion in 2008 to $14 billion in 2014.

Jonathan Coker, investment manager at MMC commented "Creativity Software is experiencing exponential growth through a surge in demand from both consumers and business users, exactly the type of business we like to back. We believe LBS infrastructure providers are going to be one of the key beneficiaries of the burgeoning LBS services market and Creativity Software is one of the leaders in this space.

Our investment and support will help to accelerate the growth of the business and position them to exploit this large, fast-growing market".

Richard Lee, CEO of Creativity Software comments "We chose MMC because they have a strong track record of growing businesses and are an experienced team that we can trust. Their investment and strategic advice will ensure that we are able to expand and broaden our reach".

Creativity Software was advised by Strata Partners.

For more information about Creativity Software please visit www.creativitysoftware.net.

About Creativity Software
Creativity Software is a UK company that specialises in Location Based Services. The company provides Mobile Network Operators globally (GSM & CDMA, 2G & 3G) with Location Positioning Infrastructure, Middleware and Applications, enabling them to:
(1) comply with lawful intercept government legislation
(2) deploy zone billing, and
(3) deploy new revenue-generation services for both consumers (e.g. Family & Friend Finder) and enterprises (e.g. Vehicle Tracking, Field Staff Monitoring, Location Based Advertising).

Partnerships with other telecommunication equipment vendors and a strong network of sales agents and distributors throughout the world, give Creativity Software a global presence, with local expertise.

About MMC
MMC Ventures was founded in 2000 to invest in fast-growing UK companies: 22 to date. MMC currently has £70 million under management through a combination of managed funds and a syndicate of experienced private investors and backs its portfolio companies through to profitability. MMC has a strong track record and was named 'EIS Fund Manager of the Year' in 2009.

The current portfolio of investments includes:
Breathing Buildings
Clash-Media Limited
E-trader Group
iiPay
Neoss
Small World
The Practice

www.mmcventures.com

Strata Partners is an independent European investment banking firm that provides discreet buyside, sellside, capital raising and IPO advisory services to technology, applied technology and media companies.

www.strata-partners.com

For further information contact:
Ciara Shepherd, Marketing Communications Manager, Creativity Software.
+44 (0)20 8574 4047
[email protected]