On February 26, 2008, Morpho Inc. announced its most recent business deal. The announcement revealed that this Japanese company was going to receive a huge investment worth $1.53 million from Nokia Growth Partners.
Morpho Inc. announced a business deal on February 26, 2008 where it was revealed that he Morpho Inc. was going to receive huge funding from Nokia Growth Partners.
Details of the Deal
The investment deal was announced on February 26, 2008. The announcement revealed that Morpho Inc. is going to receive an investment worth 165 million Japanese Yen, which converts to approximately $1.53 million, from Nokia Growth Partners.Before this investment deal, Morpho Inc. received another funding from NTT DoCoMo, a leading mobile communication company.
Morpho Inc. would use the funds received through this investment deal to expanding it overseas operations and to meet the increasing demand for their products. After making such a huge investment, Nokia Growth Partners would become a strategic partner of Morpho Inc. and would help Morpho Inc. in meeting its business goals.
In regards to this investment deal, Rob Trice, partner at Nokia Growth Partners, stated that Nokia Growth Partners has made the decision to invest in Morpho Inc. because Morpho Inc. has a global perspective and possesses tremendous growth potential. He also said that, after this investment deal, Morpho Inc. would be able to expand its business outside of Japan, allowing mobile camera phone users outside of Japan to be able to access the benefit of Morpho Inc.’s superior imaging software.