BOULDER, Colo.-SignalSoft Corp., a software developer focused on the wireless location industry, completed $33 million in private equity financing from existing investors as well as new financial and strategic investors in the United States, Europe and Japan.
Salomon Smith Barney managed the private placement. New investors include American Express, America Online, Comverse Network Systems, Hikari Tsushin, MediaTel Capital and Siemens Mustang Ventures. Existing investors that participated in the latest round of financing include Olympic Venture Partners and Tredegar Investments. Certain private investors also participated.
SignalSoft said it plans to use the funds to enter the Asia Pacific market, expand its partnerships throughout the wireless and Internet fields, increase its worldwide sales and marketing efforts and strengthen its research and development efforts.
“SignalSoft provides the enabling technology to combine the intelligence of today’s wireless networks with the rich content of the Internet,” said Alex Cena, managing director of Salomon Smith Barney. “In our opinion, wireless location-based services will serve as the platform for the acceleration of e-commerce on mobile networks.”
In other news, SignalSoft announced that Swiss mobile operator diAx has deployed the company’s local.info location-based information application. Subscribers to the service have access to information, including weather forecasts, chair lift availability, avalanche warnings, road conditions, taxi and bus services, restaurants, shops, sports activities and emergency contact numbers.
diAx opted to deploy the service after testing it during the Telecom ’99 exhibition in Geneva last October.
