MOBIDIA COMPLETES OVERSUBSCRIBED INVESTMENT
Mobidia has completed a $7,500,000 round of financing.
Vancouver, BC, May 07, 2008
Mobidia, Inc. is pleased to announce that it has completed a $7,500,000 round of financing. In light of the very strong interest in the offering, the company will complete a second closing later this month to accommodate additional investors.
Mobidia is a wireless infrastructure company whose product, "
.wave", enables carriers to manage, control, prioritize and monetize on specific applications, as well as generally improve upon the performance of its data services.
"This financing comes at a very exciting time for Mobidia, with the explosion of peer-to-peer communication and streaming video placing a heavy burden on wireless networks and demonstrating a clear need for our technology," remarked Derek Spratt, Mobidia's CEO. "This financing will allow us to continue with our aggressive growth strategy, and continue to build on our relationships with our partners including Vodafone, T-Mobile, Sprint, Cisco and Microsoft, among others. We are also gratified at the over-whelming response to our financing, and are pleased to see it over-subscribed."
David Raffa, Partner & COO of BC Advantage Funds, the lead investor in this financing round, said "along with an impressive track-record as a serial entrepreneur, Derek Spratt has brought new strategic focus to Mobidia. We are very pleased with the progress the company has made in the first half of this year, and are excited about its prospects given the extent of its current engagements with its partners."
About Mobidia Technology Inc.
Mobidia develops software and solutions for enhancing mobile data networks. At the core of Mobidia's technology is a client-centric architecture that introduces network-edge intelligence to make mobile data networks more efficient, more profitable, and more usable. By leveraging the collective, distributed computing power of tens of millions of smartphones, Mobidia can increase network efficiency and enhance experiences for subscribers. In addition to offering a transport optimization solution, the My Data Manager consumer application, and subscriber-centric policy technology for managing mobile data, Mobidia provides a wide range of development services for developing and licensing custom mobile solutions.
Mobidia is headquartered in Vancouver, British Columbia with local U.S. and European presence. For more information, visit
www.mobidia.com or call 604-304-8640.
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Mobidia is a service mark of Mobidia Technology, Inc.
Mobidia Technology, Inc.
Contact:
Chris Hill
VP of Sales and Marketing
Email: chris.hill@mobidia.com
Phone: +1 604.304.8640 Ext. 104
For all other inqueries about Mobidia Technology, Inc., please call +1 604 304 8640, fax +1 604 304 8615, or email via
info@mobidia.com. For additional information, visit
www.mobidia.com.
