LONDON—MobileMail Ltd. said it snared $1 million in private placement funding as well as a distribution agreement with Russian Internet service provider NNT Telecom.
The London-based developer of two-way, PC-to-mobile communications software said NNT Telecom will offer MobileMail’s wares to its customer base of 1,500 corporate clients and three distributors. The application is targeted at mobile sales forces as well as social communities looking to employ a cost-effective, one-to-many wireless communications solution.
MobileMail also said it will sell 4 million shares of common stock at 25 cents a share. Shares of the company climbed 4 cents, or 13 percent, to 25 cents per share following the announcement.
