Capital Markets: BEIID invests in UTStarcom; Red Bend buys VirtualLogix; and more

UTStarcom (UTSI) said it closed a strategic investment led by Beijing E-town International Investment and Development Co. Ltd. The company recently revised terms of the investment that was announced earlier this year. According to the revised terms, UTStarcom received a total of $36.6 million and issued about 18.1 million shares of common stock, for a per-share purchase price of about $2.03. BEIID invested about $23 million and Shah Capital Management invested $11 million. Ram Max Group invested $2.6 million.
Tyfone Inc., which provides mobile banking, mobile contactless payment and secure mobility solutions, closed a series B financing round of $5 million. The preferred stock financing includes new strategic investors HDFC Holdings Ltd., Polaris Software Lab and a strategic manufacturing partner, as well as participation from existing investor Ojas Venture Partners. The company said it will use the capital to accelerate production of SideTap MicroSD memory cards for mobile contactless transactions and to scale its software-centric business including mobile banking, couponing and loyalty solutions.
Red Bend Software said it acquired VirtualLogix in a move to enter the mobile virtualization space. The company said the acquisition also allows it to broaden its management solutions for device manufacturers, semiconductor vendors, software developers and service providers. Terms of the deal were not released.
Aruba Networks Inc. (ARUN) said it completed its acquisition of Azalea Networks, which supplies outdoor mesh networks. The deal includes an operations center in Beijing, which Aruba said will complement its existing research and development centers in Bangalore and Silicon Valley.
MetroPCS Inc. said its MetroPCS Wireless Inc. subsidiary commenced an offering of $500 million aggregate principal amount of registered senior notes due 2018. The offering is intended to fund a cash tender offer to purchase up to $500 million in aggregate principal amount of its 9.25% senior notes due 2014.
Verizon Communications Inc.’s (VZ) board of directors declared a quarterly dividend of 48.75 cents per outstanding share, which represents an increase of 1.25 cents per share from the previous quarter. The dividend is payable Nov. 1 to shareholders of record on Oct. 8.
AT&T Inc. (T) announced the settlement of its private offer to exchange its 8.750% senior notes of New Cingular Wireless Services Inc. due 2031 and its outstanding 8.00% senior notes of AT&T Corp. due 2031. The company said on Sept. 2 in delivered an aggregate principal amount of $2.5 billion of new notes and paid $631.3 million for the existing notes accepted for exchange.
Comarco Inc. (CMRO) said its revenues for its 2011 second fiscal quarter, which ended July 31, were $12.8 million, up from $7.6 million for the second quarter of 2010. Net loss for the quarter was $600,000, or 8 cents per share, compared with a net loss of $700,000, or 9 cents per share, during the same quarter last year.
Upcoming earnings releases:
WPCS Sept 14
Research In Motion Sept. 16