NEW ORLEANS, LA - Thermo Credit, LLC, a funding company focused exclusively on opportunities in the telecommunications industry, announced that it has entered into a financing arrangement with Dial 023 GmbH, a provider of 1 plus and dial around long distance, for a $1 million asset based loan that will be used to help expand their international operations in Germany.
OKLAHOMA CITY--(BUSINESS WIRE)--Stelera Wireless, a privately-held company specializing in wireless broadband services has received $35 million from the Department of Agriculture in the form of a low interest loan. The funds will be used to invest and grow the most technologically-advanced wireless broadband service available—3.5 generation HSUPA (High Speed Upload Packet Access).
INDIANAPOLIS--(BUSINESS WIRE)--Vontoo, the world’s first permission-based voice messaging provider, announces today it received nearly $2 million in private funding as a result of its customer base growing 1,000 percent in 2007 with quarter-to-quarter overall growth more than doubling during that time period.
PLEASANTON, Calif.--(BUSINESS WIRE)--Five9, Inc., a leader in on-demand call center solutions, today announced the completion of $12 million in equity funding from leading investors Hummer Winblad Venture Partners, Partech International and Mosaic Venture Partners. Five9 will use the funding to accelerate its sales, marketing, and product development initiatives.
NEW ORLEANS, LA - Thermo Credit, LLC, a funding company focused exclusively on opportunities in the telecommunications industry, announced that it has completed a new $5 million asset based credit facility with Teletouch Communications, Inc. (OTC.PK: TLLE), a leading U.S. cellular, two-way radio, mobile electronics and related services provider. In addition, Thermo Credit has expanded an existing facility originally signed in August 2006 with Teletouch’s wholly-owned subsidiary, Progressive Concepts, Inc. (PCI), which provides for a total additional $15 million in financing based on accounts receivable. The two facilities together comprise $20 million in total funding capabilities.
Looking to build ad sales by adding heavily-traveled Web destinations, AOL today announced plans to acquire top-tier social networking site Bebo for about $850 million, in what’s become a market segment land grab
Thumbplay Raises $18 Million in New Funding
NEW YORK--(BUSINESS WIRE)--Thumbplay® (www.thumbplay.com), the #1 mobile entertainment content service in the U.S.*, today announced that it has raised $18 million in new capital through a Series E round that was led by Brookside Capital Partners, the public equity affiliate of Bain Capital, and Cross Creek Capital, a private equity affiliate of Wasatch Advisors.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Vertical Communications (VRCC.OB) (“Vertical”), a leading provider of next-generation, IP-based phone systems and applications that help businesses better serve their customers, announced today that the Company had entered into a securities purchase agreement (the “SPA”) with certain of its current investors (the “Initial Investors”) including its chief executive officer.
PENNSAUKEN, N.J.--(BUSINESS WIRE)--Lattice Incorporated (OTC: LTTC) (“Lattice” or the “Company”), a provider of advanced information and communications technology solutions to key government agencies and enterprise customers, announced today that it has secured a $2.4 million line of credit with The Private Bank of the Peninsula, which may be increased to $4.0 million, contingent on on-going negotiations with other financial institutions to take a participation interest.
MCLEAN, Va.--(BUSINESS WIRE)--Global Telecom & Technology, Inc. (“GTT”), (OTCBB:GTLT), a global Multi-Network Operator (MNO), announced today it has entering into a credit facility agreement with Silicon Valley Bank, the commercial banking arm of SVB Financial Group (Nasdaq:SIVB).
HOUSTON, March 24 /PRNewswire-FirstCall/ -- Data Call Technologies, Inc. (OTC Bulletin Board: DCLT) of Houston, TX today announced that it has entered into a letter of intent to acquire 100% of Podcast Ready, Inc. (PRI), a private Delaware corporation based in Houston, TX.
SAN JOSE, Calif., March 31 /PRNewswire/ -- MediaXstream, Inc., a new venture that provides carrier-neutral, high-quality transport and managed network services for the production and broadcast industries, today announced that it has closed a $10 million Series A round of funding, led by Constellation Ventures and joined by Columbia Venture Corporation. MediaXstream specializes in the digital and High Definition formats demanded by sports, TV and film production, news, mobile content, and IPTV.
ANCHORAGE, Alaska--(BUSINESS WIRE)--Alaska Communications Systems Group, Inc. (“ACS”) (NASDAQ: ALSK) today announced that it has entered into an agreement to purchase Crest Communications Corporation (“Crest”), owner and operator of the North Star submarine fiber-optic cable, one of three existing submarine fibers connecting Alaska to the continental United States.
LAS VEGAS, April 2, 2008 /PRNewswire/ -- CTIA WIRELESS -- Vlingo
Corporation today announced that it has secured $20 million in Series B
financing. Led by Yahoo! Inc., the round also included existing investors
Charles River Ventures and Sigma Partners.
GREENVILLE, S.C.--(BUSINESS WIRE)--ScanSource Inc., {Nasdaq:SCSC}, a leading value-added distributor of specialty technology products, has expanded its communications business internationally with the acquisition of MTV Telecom Distribution plc, a UK-based distributor of voice and data solutions. The acquisition of MTV Telecom is a key step in ScanSource, Inc.’s strategy to become a leading pan-European distributor of voice and data solutions.
SiBEAM, Inc. Closes $40 Million Series C Funding
SUNNYVALE, Calif.--(BUSINESS WIRE)--SiBEAM, Inc., the leading innovator of millimeter wave (mmWave) solutions and developer of high-speed wireless communications platforms, today announced the closing of $40 million in Series C funding led by New Enterprise Associates (NEA). Follow-on investments are included in this round from existing investors, Foundation Capital and U.S. Venture Partners (USVP).
The videoconferencing market is about to become more competitive. BT plc has agreed to acquire U.S.-based video provider Wire One Holdings Inc. – a move that will give the company the broad reach and portfolio necessary to go head-to-head with AT&T Inc. (http://www.att.com) and other players for enterprise video accounts.
Digital Lightwave Restructures Debt and Secures $2.5M Line of Credit
CLEARWATER, Fla.--(BUSINESS WIRE)--Digital Lightwave, Inc. (OTCBB:DIGL), a leading provider of optical networking test equipment and technology, today announced that on April 4, 2008, the Company and Optel Capital, LLC restructured all the outstanding indebtedness owed by the Company to Optel, and Optel agreed to make a $2.5 million line of credit available to the Company for working capital purposes.
LOS ANGELES & SAN JOSE, Calif.--(BUSINESS WIRE)--Platinum Equity announced today it has completed the acquisition of Covad Communications Group, Inc., a leading national provider of integrated voice and data communications. The total value of the transaction is approximately $470 million.
Sonus Networks Inc. said on Monday it has acquired Atreus Systems.
Terms of the deal were not disclosed. The two companies have worked together for five years.
Sonus makes IP infrastructure; Atreus develops IP telephony service provisioning software. Sonus said it will use Atreus’ OSS integration expertise and provisioning capabilities to roll out new IP services to fixed-line and mobile operators worldwide.
Atreus is headquartered in Ottawa, Ontario. Sonus is based in Massachusetts.
MENLO PARK, Calif., April 22 /PRNewswire/ -- Leader Ventures, an investment firm offering blended debt and equity financing, announced today that it has provided $5 million of equipment financing to MobiTV, the leading provider and platform for content delivery over mobile and broadband networks.
Ambient Secures $3.0 Million in Permanent Funding
BOSTON--(BUSINESS WIRE)--Ambient Corporation (OTCBB: ABTG) announced today that it has raised an additional investment of $3 million from Vicis Capital Master Fund (Vicis). In return for the investment, Vicis received warrants for 135 million shares of Ambient common stock and other consideration.
ELMWOOD PARK, N.J., April 23 /PRNewswire-FirstCall/ -- Berliner Communications, Inc. ("Berliner" or the "Company") (OTC Bulletin Board: BERL), an end-to-end provider of outsourced services for the wireless communications industry, today announced that on April 17, 2008, it entered into a new three-year $15 million revolving credit facility with PNC Bank, N.A. ("PNC"). The facility replaces the Company's existing financing arrangement, and is intended to provide liquidity and working capital for growth initiatives and future expansion, including possible acquisitions. Interest under the new facility will be at prime or the PNC Eurodollar Rate (comparable to LIBOR) plus 2 percent.
EDWOOD CITY, Calif., April 24 /PRNewswire/ -- Obopay, Inc., the pioneering service provider for payments via mobile phones, announced the closing of its $20 million fourth round of venture funding and the addition of two new board members. This latest round of investment builds on Obopay's enormous momentum in its business and high-profile partnerships.
SUNNYVALE, Calif.--(BUSINESS WIRE)--InvenSense, Inc. (www.invensense.com), the leading provider of motion sensing solutions for mobile consumer applications, today announced it has secured $19 million dollars in Series C venture capital financing. The round was led by new investor Sierra Ventures, with participation from previous investors Artiman Ventures, Partech International and Qualcomm Ventures. Several strategic investors also participated in the Series C investment round including Foxconn, Inventec Appliances Corp, both from Taiwan; Skylake Ventures from Korea; DoCoMo Capital, a wholly-owned U.S. subsidiary of NTT DoCoMo Japan, and VentureTech Alliance (whose majority LP is TSMC). Ben Yu, managing director at Sierra Ventures, will join InvenSense’s board of directors. The round will bring InvenSense’s total funding to date to $38 million.
NEW YORK--(BUSINESS WIRE)--Granahan McCourt Acquisition Corp. (AMEX: GHN, GHN.U, GHN.WS) (“Granahan McCourt”) announced today that it has entered into a definitive merger agreement with privately-held Pro Brand International, Inc. (“PBI”), a leading designer and developer of advanced antenna and RF systems for the satellite industry, primarily serving Direct Broadcast Satellite (“DBS”) operators.
CUPERTINO, Calif.--(BUSINESS WIRE)--iamba Networks, a leading provider of Gigabit Passive Optical Networking (GPON) solutions today announced the company has closed a $7 million round of financing. Investing firms in this round include iamba’s investors from previous rounds, Pitango Venture Capital, Cedar Fund, Giza Venture Fund and Kreos Capital.
Clearwire Corp. and Sprint-Nextel Corp. are combining their WiMAX efforts to form a new $14.5 billion company, the two announced on Wednesday. They also said the new company would have 3G and 4G wholesale agreements with cablecos to bundle in Sprint’s wireless services.
NEW YORK, May 8 /PRNewswire/ -- Teliris, the leading provider of telepresence solutions, announced today it has secured $10 million in debt financing from Silicon Valley Bank, the premier commercial bank for technology companies and a member company of SVB Financial Group (Nasdaq: SIVB). The debt financing will be used to fund expansion and working capital requirements as a result of its fast-paced global growth as it continues to capitalize on its market leadership in the telepresence industry.
Bayly Communications Inc. Acquires Coastcom
TORONTO & ALAMEDA, Calif.--(BUSINESS WIRE)--Bayly Communications Inc., a recognized leader in the design and implementation of innovative and reliable network solutions, headquartered in Toronto, Canada, announced today the acquisition of Coastcom, a leading manufacturer and supplier of network solutions based in Alameda, California, for an undisclosed amount. Both are privately-held companies.
