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 Technology, Inc., develops and sells IP traffic management software for monitoring, managing, and monetizing wireless data streams to and from smartphones and laptops. The company's innovative and award-winning,
.wave™ (dot wave) solution enables wireless operators to enhance their mobile data network by understanding and managing their user data streams on a per application, per service, and per network basis. Mobidia is headquartered in Vancouver, British Columbia. 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.
Sales Contact:
Allan Larmour
VP of Business Development
Email: al.larmour@mobidia.com
Phone: +1 604.304.8640 Ext. 100
Media Contact:
Jill Koehler
Email: jill.koehler@mobidia.com
Phone: +1 604.304.8640 Ext. 136
For all other inqueries about Mobidia Technology, Inc., please call +1 604 304 8640, fax +1 604 304 8447, or email via
info@mobidia.com. For additional information, visit
www.mobidia.com.
