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SmithBayes Completes MBO of McLaren Applied Technologies

London, UK, 12 January 2007.

SmithBayes today announced that it has completed a transaction to acquire the shares held by its start-up partner McLaren Applied Technologies Limited. The SmithBayes management, led by CEO Simon Williams, will continue to run and grow the business from the solid base established during its relationship with McLaren.

SmithBayes was established to develop a software platform that enables decision makers to rapidly develop scenarios that map out the value, risk and success probability of defined business strategies. These scenarios are linked in real-time to company, financial and market information enabling companies to immediately recalibrate their strategy in response to changes in market conditions both at the micro and macroeconomic level. The underlying technology is derived from the race strategy software used by McLaren in Formula 1 racing to underpin its decision making before and during a race.

The terms of the transaction state that this technology is exclusively licensed to SmithBayes for business strategy applications through McLaren Applied Technologies, a business that specialises in commercialising intellectual property and capability from within the McLaren Group.

Commenting on the announcement Simon Williams, CEO of SmithBayes said, “We believe SmithBayes is in a strong position to build upon the solid base we have established over the past 12 months.”

“We already have a proven high-value market demand with our blue-chip pilot customers. This is testament to the validity of our proposition and we look forward to extending our existing client portfolio in Europe and beyond,” he added.

SmithBayes will extend the core technology to deliver the next generation of its software platform based upon a DotNet3 architecture and Vista optimised interface, early in 2007.

Media Enquiries

For further information please contact press@smithbayes.com

About SmithBayes Ltd

Founded in early 2006, SmithBayes is a software firm that offers decision-makers a professional platform to make better and faster strategic decisions across their entire business portfolio. Since its launch, SmithBayes has quickly brought to market a powerful decision platform and analytical tools. The company has attracted interest from a wide range of industries in the UK, Europe and North America seeking to solve a variety of business issues and is currently working with customers in aerospace, energy, telecoms and healthcare.

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Press Releases

Ian Turner, former Managing Director at Macromedia and Adobe, joins SmithBayes as Director of Sales
SmithBayes secures Series A funding from Early Stage Investor of the Year, Eden Ventures
Annette Stark, former Head of Reuters Solutions for UK and Ireland, joins SmithBayes as Director of Customer Services
SmithBayes completes MBO of McLaren Applied Technologies
SmithBayes earns Certified Partner Status in Microsoft Partner Program
SmithBayes signs Joint Venture with McLaren
SmithBayes hires former Reuters CIO as Chairman


 

For further information

Aleks Vujanic
Burson-Marsteller

Email: info@smithbayes.com

   
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