TelASIC Communications Inc. raised $26 million in a series D round of financing. The company, which develops analog and mixed-signal integrated circuits and sub-systems for the third-generation wireless infrastructure market, said ComVentures led the round. “ComVentures believes wireless base station technology is undergoing significant change as operators seek to reduce capital and operating expenses, reduce dropped calls and add high-speed data services,” said Jim McLean, a partner with ComVentures.
Mitec Telecom Inc. closed its acquisition of the assets of Broadband Wireless L.L.C. for $1.2 million. Broadband Wireless specializes in amplifiers. “This is a strategically important acquisition in terms of growth opportunities for our wireless business,” said Rajiv Pancholy, president and chief executive officer of Mitec. The companies said the purchase price consisted of half cash, half Mitec common shares and “is based on a 1x revenue evaluation.”
Location-based services company Telcontar locked up $10.6 million in a funding round led by Norwest Venture Partners and joined by existing investors Mobius Venture Capital and Cardinal Venture Capital. Telcontar develops software and other products to deliver location-aware information such as mapping, driving directions, search results and traffic alerts. The company said it will use the cash to fuel international expansion, develop new products and expand its sales and marketing operations. Under terms of the financing, Jeff Crowe of Norwest Venture Partners was named to Telcontar’s board of directors.
Mobile search provider 4INFO Inc. has completed an $8 million round of equity funding led by U.S. Venture Partners. 4INFO said it will use the capital to expand sales and marketing efforts and enhance its product development. The Palo Alto, Calif.-based company allows wireless users to access local directory information, movie showtimes, sports scores and other data free from their handsets. The market for mobile local search services has heated up in recent months. Draper Fisher Jurvetson also participated in the round.
