NEW YORK-Clariti Telecommunications International Ltd., Philadelphia, said Oct. 11 it had received commitments for $27 million in a private placement to European investors.
These funds should provide enough capital through June to develop Clariti’s global Internet Protocol network for voice, data and messaging.
Clariti said it plans to provide domestic and international telephony, Internet and wireless services in Europe, including the United Kingdom.
The company also said it is developing the ClariCast Wireless Voicemail System, “a patented, digital wireless system that combines the attributes of pagers, mobile phones and voice mail.”
In a related development, Clariti also said two of its subsidiaries, GlobalFirst Holdings Ltd. and Mediatel Global Communications Ltd., filed Oct. 11 for voluntary liquidation in the United Kingdom. The subsidiaries each provide international long-distance and prepaid calling card services in France and the United Kingdom.
“The recent year has been a difficult one for the international long-distance telephony industry, particularly given the fierce competition for … revenue and the continuing shrinkage of profit margins,” said Joseph Smith, Clariti’s executive vice president of operations.
“We believe shareholder value is best served by developing a European strategy, which is in accord with Clariti’s proven strengths of expanding its global IP network and accelerating the commercialization of its proprietary wireless technology.”
