Zenprise said it raised $9 million in a financing round led by Rembrandt Venture Partners. Existing investors Ignition Partners, Bay Partners, Mayfield and Shasta Ventures also participated. The funds will be used to expand the company’s sales and marketing efforts.
UTStarcom (UTSI) announced additional details concerning its strategic cooperation agreement with China Merchants Bank. The deal calls for CMB to provide financial services, including foreign exchange services and financial consulting services, as well as factoring and supply chain financing. The agreement further calls for UTStarcom to use CMB as the main underwriter for any debt financing to be obtained for its projects.
Glu Mobile Inc. (GLUU) announced a definitive agreement to sell common stock and warrants to ten existing stockholders and ten new investors in a private placement that is expected to raise $13.5 million. The deal calls for Glu to sell nearly 13.5 million shares of common stock for $1 per share and warrants to purchase 6.7 million shares of common stock that will become exercisable at $1.50 per share.
Reliance ADA Group said its wireless unit has agreed to acquire India’s largest cable operator, Digicable Network Pvt. Ltd.
Motorola (MOT) filed an initial Form 10 Registration Statement with the Securities and Exchange Commission in connection with the company’s plan to split its operations into two separate entities. The Form 10 contains information about Motorola SpinCo Holdings Corp., which is the holding company for Motorola Mobility Inc., which will include the company’s mobile devices and home businesses.
Superconductor Technologies (SCON) filed a shelf registration statement with the Securities and Exchange Commission to sell up to 10 million shares of common stock.
Veraz Networks (VRAZ) said it received notice from the NASDAQ Stock Market warning it that its minimum bid price had fallen below $1 for 30 consecutive business days and is not in compliance with the market’s rules. Veraz will have 180 days to regain compliance with the minimum closing bid price requirement.
Upcoming earnings releases:
CalAmp (CAMP) July 8
Adtran (ADTN) July 14
F5 Networks (FFIV) July 21
AT&T (T) July 22
Nokia (NOK) July 22
SBA Communications (SBAC) August 2
Syniverse Holdings (SVR) August 2
Verisign (VRSN) August 2
ADC Telecom (ADCT) August 4
MetroPCS (PCS) August 5
