| This Week's Financial Stories
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Pronto Networks Secures $11.3 Million in Series B
Funding
Pronto Networks announced the closing of $11.3 million in Series
B funding, which will help the company capitalize on the rapid
growth of Wi-Fi around the globe. The round was led by US and Europe
based BV Capital, which invests in early and growth stage companies
mainly located in California and Northern Europe. Follow-on
investments were secured from Draper Fisher Jurvetson (DFJ) and the
Intel Communications Fund, both of which participated in the
company's first round in January 2003.
"The closing of this second round of funding will help us further
strengthen our competitive position in the Wi-Fi OSS marketplace and
will enable Pronto to expand its sales and marketing operations,
particularly in Europe and Asia Pacific where the public WLAN market
is growing rapidly," said Jasbir Singh, president and CEO of Pronto
Networks. "In addition to the financial investment, BV Capital will
also be providing important strategic guidance for Pronto as the
company embarks on its overseas expansion in early 2004."
According to a recent study by market research firm Gartner Inc.,
WLAN "hot spots" for public use will multiply in Europe in 2004 and
be found in 43,000 locations by 2008. And in the Asia Pacific
region, IDC predicts that the public WLAN subscriber market will
reach close to 7 million subscribers by the end of 2008 with total
revenues exceeding US$600 million. As such, Pronto is making
expansion into both markets a priority.
Click
here for the full Pronto story!
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This Week's Financial News:
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NETGEAR Full Year 2003 Results Increase
26.1% |
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NETGEAR, Inc. (Nasdaq: NTGR) reported financial results for
the fourth quarter ended December 31, 2003. Net revenue for
the fourth quarter ended December 31, 2003 increased to $86.8
million, as compared to $71.9 million for the fourth quarter
ended December 31, 2002, a 20.7% increase. Net revenue
increased approximately 14.5% over net revenue of $75.8
million in the third quarter of 2003. For the full year 2003,
net revenue totaled $299.3 million, a 26.1% increase over the
full year 2002 net revenue of $237.3 million. The Europe,
Middle East and Africa (EMEA) regions again achieved strong
sequential net revenue growth of 31.2% to $31.8 million in the
fourth quarter of 2003, compared to $24.2 million in the third
quarter of 2003. Net revenue derived from the Asia Pacific
increased 44.6% to $7.8 million in the fourth quarter of 2003,
compared to $5.4 million in the third quarter of 2003. Net
revenue in North America grew 2.3% to $47.2 million in the
fourth quarter of 2003, compared to $ 46.2 million in the
third quarter of 2003.
Click
here to read the NETGEAR story!
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LightPointe Attracts $17 Million in Latest Funding
Round |
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LightPointe, a designer and manufacturer of optical
wireless products based on free-space optics (FSO) technology,
announced a $17 million round of financing that was led by Rho
Ventures and included participation by China-based Huawei
Technologies Co. Ltd. Both Rho and Huawei join existing
investors Sevin Rosen Funds, Ampersand Ventures, Telecom
Partner, Cisco Systems Inc. and Corning Inc.
Click
here for the full Lightpointe story!
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Corporate Travelers Fuel Record Year of Growth for
STSN |
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STSN announced another record year of footprint expansion,
wireless deployments and guest and conference usage of the
STSN broadband network during 2003. STSN has surpassed more
than seven million secure guest connections for corporate
business travelers on its dedicated network, and in Q4 2003
the company averaged more than 400,000 connections per month.
Additionally, the company facilitated nearly 13,000 secure
technology-enabled conferences at partner hotels, a
year-over-year increase of 89 percent.
Click
here for the full STSN story!
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Wireless Frontier Internet Announces the Acquisition of
OPI Wireless for $1.3 Million |
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Wireless Frontier Internet Inc. (Pink Sheets:WFRI) ("WFRI")
announced that they have completed the acquisition of OPI
Wireless, a Kansas Corporation, for a purchase price of $1.3
million. OPI Wireless is Wireless Frontier's first purchase
outside of the state of Texas and demonstrates their ability
to integrate and operate remote facilities outside of our
region. "Wireless Frontier Internet has coordinated all
operations of OPI since January 1, 2004. With the execution of
this stock purchase agreement, WiFi can now move into the
final phase of the acquisition and continue a seamless
integration of systems and controls to fit our existing
business model," stated Jay Knabb, president of Wireless
Frontier.
Click
here for the full Wireless Frontier story!
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ICOA Signs LOI to Acquire Metaccord,
Ltd. |
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ICOA, Inc. (OTCBB:ICOA) announced it has signed a letter of
intent to acquire Metaccord, Ltd., the privately-held
developer of "Wi-Fi partnership management" software for Wi-Fi
providers. Founded in 2001, Metaccord is funded and backed by
the Jerusalem College of Technology, one of Israel's leading
schools of engineering, and Israel's Office of the Chief
Scientist which invests in promising hi-tech companies.
Click
here for the full ICOA story!
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