Telecom Deals
We’ve scoured the airwaves and assembled a list of the latest financial transactions in telecom.
ScanSource Europe Expands Management Team, Completes Acquisition
ScanSource Europe, a value-added distributor of specialty technologies, including voice, data and video communications products, through a wholly owned subsidiary, has received German Regulatory approval and has completed its purchase of Algol Europe, a value-added distributor specializing in convergence and communications solutions.
Tellabs Closes Acquisition of WiChorus
NAPERVILLE, Ill., Dec. 2 /PRNewswire-FirstCall/ — Tellabs completed its acquisition of WiChorus, a leading provider of mobile packet core solutions, on Dec. 1, 2009. The closing follows Tellabs’ receipt of Hart-Scott-Rodino approval from the Federal Trade Commission.
HipLogic Secures $7 Million in Series B Funding to Deliver Smartphone Experience to Mass Market Phones
FREMONT, Calif.–(BUSINESS WIRE)–HipLogic, Inc., announced that it has raised $7 million in Series B funding to further develop and deploy its mobile application platform. The HipLogic platform improves content and application discoverability, provides a consistent user experience across all handset models, and optimizes data traffic on cellular networks.
SiTune Corporation Secures Series B Financing with Greenlane Investments LLC
SAN JOSE, Calif.–(BUSINESS WIRE)–SiTune Corporation, a leader in CMOS radio-frequency (RF) and mixed signal solutions for mobile, cable and terrestrial TV, announced that it has secured its Series B financing with current investor Greenlane Investments LLC.
Sprint Nextel Completes Acquisition of iPCS, Inc.
OVERLAND PARK, Kan.–(BUSINESS WIRE)–Sprint Nextel Corporation (NYSE:S) announced that it has successfully completed its acquisition of iPCS, Inc. (NASDAQ:IPCS).
Coveo Announces Completion of $8.2 Million Series B Financing
QUEBEC CITY–(BUSINESS WIRE)–Coveo, a leading provider of enterprise search solutions, announced the completion of its Series B financing in the amount of $8.2 million.
Transaction Wireless Secures Additional $2 Million in Funding from Mission Ventures and Okapi Ventures, LP
SAN DIEGO–(BUSINESS WIRE)–Transaction Wireless (TW), a mobile infrastructure, commerce and marketing company, announced an additional $2 million in funding from Mission Ventures and Okapi Ventures, LP.
GetFugu Announces $10 Million Financing Commitment
LOS ANGELES–(BUSINESS WIRE)–GetFugu, Inc. (OTCBB: GFGU), www.GetFugu.com, the revolutionary new method of accessing the Internet through mobile phones, entered into an agreement to receive up to $10,000,000 in funding through a private placement transaction with institutional investor Hutton International Investments, Ltd.
Starent Networks Receives Clearance from the U.S. Department of Justice and Federal Trade Commission for Acquisition by Cisco Systems, Inc.
TEWKSBURY, Mass.–(BUSINESS WIRE)–Starent Networks, Corp. (NASDAQ: STAR), a leading provider of infrastructure solutions that enable mobile operators to deliver multimedia services, announced that the U.S. Department of Justice and Federal Trade Commission have terminated the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to Cisco Systems, Inc.’s pending acquisition of Starent.
GTT Closes WBS Connect Acquisition
Global Telecom & Technology Inc. (GTT) (GTLT), a global network integrator based in McLean, Va., announced that it has completed its acquisition of privately-held WBS Connect LLC, a Denver-based provider of high bandwidth IP and WAN services.
Airvana, Inc. to be Acquired for Approximately $530 Million in Cash
CHELMSFORD, Mass.–(BUSINESS WIRE)–Airvana, Inc. (NASDAQ: AIRV), a leading provider of mobile broadband network infrastructure products, announced that it has entered into a definitive agreement with a newly formed company to be owned by affiliates of S.A.C. Private Capital Group, LLC, GSO Capital Partners LP, Sankaty Advisors LLC and ZelnickMedia, in a transaction valued at approximately $530 million.
Getfugu, Inc. Receives $800,000 in Funding
WEST HOLLYWOOD, Calif.–(BUSINESS WIRE)–Getfugu, Inc. (http://www.getfugu.com/) (OTCBB: GFGU), the next generation mobile search tool, announced that it has received $800,000 in gross proceeds from the closing of the first tranche of its $10 million financing commitment from Hutton International Investments, Ltd. and the private placement of restricted common stock to an accredited investor at $0.20 per share.
ADC Announces Altobridge’s Acquisition of Its GSM Base Station and Switching Product Portfolio
MINNEAPOLIS & TRALEE, Ireland–(BUSINESS WIRE)–ADC (NASDAQ: ADCT) (www.adc.com), a leading global supplier of network infrastructure solutions, and Altobridge, a leading provider of cost-effective solutions for mobile network operators, announced that Altobridge has acquired ADC’s portfolio of GSM base station and switching products.
QuamTel, Inc., Completes Acquisition of DataJack, Inc.
DALLAS–(BUSINESS WIRE)–QuamTel, Inc. (OTCBB: QUMI), a fast growing provider of advanced telecommunications technologies, announced that is has completed the acquisition of DataJack, Inc., a provider of high speed, reliable, secure unlimited nationwide 3G mobile broadband services. Under the terms of the acquisition agreement, DataJack will operate as a wholly-owned subsidiary of QuamTel.
Kahzam, Inc. Agrees To Acquire TeCOUP.com LLC
BOCA RATON, Fla.–(BUSINESS WIRE)–Kahzam, Inc. (OTCBB: KHZM) – an emerging leader in the fast-growing web-based platform developer market, targeting associations and affinity groups – has entered into an agreement to acquire Nashville-Based TeCOUP.com LLC, which provides SMS Text Coupon Messaging through patent-pending delivery services.
Internet Capital Group Leads Acquisition of GovDelivery
WAYNE, Pa.–(BUSINESS WIRE)–Internet Capital Group, Inc. (Nasdaq: ICGE) announced that, together with management, it has acquired GovDelivery, Inc. (“GovDelivery”). GovDelivery, based in St. Paul, Minnesota, is the leading platform provider of government-to-citizen digital communication solutions. ICG paid $19.7 million for 89% ownership of GovDelivery.
TA Associates Invests $45 Million in Micromax Informatics Limited
BOSTON & NEW DELHI–(BUSINESS WIRE)–TA Associates, a leading growth private equity firm, announced a minority investment of $45 million in Micromax Informatics Limited, one of India’s leading mobile handset providers.