VeriSign Inc.'s CFO, Dana Evan, has resigned, another apparent casualty of the company's internal examination of its stock-option practices.Evan will be succeeded by Bert Clement, the company's controller. Stratton Sclavos, former CEO, resigned in June. Sclavos' departure came with a company statement that its...
Mobile payment startup Obopay padded its bank account, hauling in $29 million in a third round of funding.Richmond Management L.L.C. affiliate Richmond Global Cellular led the round and existing investors Qualcomm Inc., Redpoint Ventures and others participated. Obopay also added new backers including AllianceBernstein...
Sony Ericsson Mobile Communications grew by between one-third and one-half in the three key metrics for the second quarter, posting huge jumps in revenue, profit and volume shipments. The results may well confound analysts who have wondered whether the joint venture could sustain its...
Motorola Inc. warned investors that its sales, earnings and unit shipments would all fall below previous guidance. The company also announced that Stu Reed, current head of the vendor's supply chain operations, would take the reins of Motorola's mobile device business.The company also postponed...
Shares of Boston Communications Group Inc. skyrocketed after Indian computer company Megasoft Ltd. said it will acquire the struggling developer of billing software for roughly $65 million.Megasoft's Tea Party Acquisition Corp. unit will offer $3.60 per share of BCGI common stock on or before...
The following lists includes venture capital and other investments into wireless companies announced this week.--Brightstar: Lindsay Goldberg, a New York-based investment partnership, invested $283 million in Brightstar Corp. The equity financing makes Lindsay Goldberg the company's largest shareholder behind its founder, Marcelo Claure. Brightstar...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.--First Albany Capital raised its price target on WPCS International Inc. to $16 from $14.50 after the company announced better-than-expected guidance for the fiscal 2008...
The mantra of OPM-other people's money-is alive and well in wireless.The latest private-equity investments, announced yesterday, include New York-based Lindsay Goldberg's $283 million stake in Brightstar Corp., which is expanding its wireless distribution and supply chain operations globally. Separately, Los Angeles-based Platinum Equity is...
Shares of Oasys Mobile Inc. continued their descent after the company lost two board members and defaulted on an $8 million loan.The Raleigh, N.C.-based outfit filed documents with the Securities and Exchange Commission disclosing the resignations of J. Winder Hughes and Stephen Finn, claiming...
Tira Wireless said it will expand beyond mobile entertainment after pocketing $5 milion in a Series D funding round.The San Mateo, Calif.-based company has gained considerable traction by helping game-makers and other publishers deploy their offerings across a broad swath of devices and networks....
The wireless industry has watched since 2001 as Sony Corp. and L.M. Ericsson joined forces to tackle the handset market. Sony Ericsson Mobile Communications focused on profitability first and has attained fourth place in global handset-vendor rankings. The JV's financial success has been reflected...
Wireless is still drawing considerable interest-and dollars-from venture-capital companies, but VC investment overall saw a dip in the number of deals in the first quarter as investors concentrated on exit strategies, including initial public offerings. Some of the biggest IPOs related to the wireless...
Clearwire Corp. secured the first portion of a fully committed $1 billion term loan that the wireless broadband service provider said would be used to refinance its debt and effectively extend all of its debts to a five-year maturity. The transaction was led by...
Canada's Wireless Age Communications Inc. pulled the plug on its troubled technology distribution business.The Toronto-based company declared the bankruptcy of mmwave Technologies Inc., a subsidiary that distributes components for wireless, digital, optical and microwave use. Shimmerman Penn Title & Associates Inc. will serve as...
BlackBerry maker Research in Motion Ltd. saw its stock jump more than 20% in early trading after it reported a 76.5% increase in revenue from the same quarter a year ago. Meanwhile, smartphone rival Palm Inc.'s stock is down nearly 4% after it reported...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier--Robert W. Baird upped its price target and estimates on Telephone & Data Systems after the company reported first-quarter results. The company's new price target...
The following list includes venture capital and other investments into wireless companies announced this week.--4Info: Gannett Co. Inc. led a $10 million series D funding round into 4Info, a mobile search, publishing and advertising company. Previous investors U.S. Venture Partners and Draper Fisher Jurvetson...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier --Goldman Sachs adjusted its estimates on Leap Wireless to 63 cents from 49 cents for 2007; $1.10 from $1.11 for 2008; $4.91 from $3.71...
The following list includes venture capital and other investments into wireless companies announced during the past week. The value of the investment is included when available.--AceComm: Hale Fund Management L.L.C. invested $4.2 million into AceComm Corp. via a private financing arrangement that included...
Mobile multimedia technology company Aylus Networks Inc. said it snared $15 million in a second round of fundraising from existing investors Matrix Partners and North Bridge Venture Partners.Aylus provides software designed to enhance voice calls with shared video clips and images. The Westford, Mass.-based...
The following list includes venture capital and other investments into wireless companies announced during the past week. The value of the investment is included when available.--Adaptive Mobile: Doughty Hanson, an early-stage venture-capital fund, led AdaptiveMobile's $14 million second-round financing. Other investors included Noor Financial...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier --Standard & Poor's Ratings Services raised its issue rating on Qwest Corp.'s senior unsecured debt to BBB- from BB+.--Lehman Bros. raised its price target...
Mobile security software developer AdaptiveMobile said it pocketed $14 million in a second round of funding.Doughty Hanson, an early-stage venture capital fund, led the round, joined by Noor Financial Investment Co. and Intel Capital. AdaptiveMobile said it plans to use the cash to expand...
Starent Networks Corp., which sells multimedia infrastructure products to wireless carriers, raised $126.4 million in an initial public offering, beating the company's forecast. The offering of more than 10.5 million shares sold for $12 per share, which gives the company an initial market capitalization...
