Tranzeo Wireless And Skytap Receive Additional Funding

Jan. 17, 2011
Tranzeo Wireless Technologies announced that it has completed a private placement of 763,733 common shares with employees, officers and directors of Tranzeo for total proceeds of $305,494.

PITT MEADOWS, BRITISH COLUMBIA - (Jan. 7, 2011) - Tranzeo Wireless Technologies (TSX:TZT), a manufacturer of wireless broadband and WiMAX communication systems, announced that it has completed a private placement of 763,733 common shares with employees, officers and directors of Tranzeo for total proceeds of $305,494. In addition, Mr. James Tocher, CEO of Tranzeo (www.tranzeo.com), has agreed to lend the company $300,000 for a one-year term. The loan has been conditionally approved by the TSX, at standard commercial terms. The proceeds of the private placement and loan will be used to fund the continued growth in the company generated from India and other international markets.

Skytap Secures $10 Million to Accelerate Business Growth for Cloud Automation

SEATTLE, WA - (January 3, 2011) - Skytap (www.skytap.com), a provider of self-service cloud automation solutions, has announced an oversubscribed $10 million Series C round of funding led by OpenView Venture Partners with participation from existing investors Ignition Partners, Madrona Venture Group and Washington Research Foundation. The investment will be used to scale sales and marketing, and accelerate innovation of the company's flagship cloud automation platform. Scott Maxwell, senior managing director of OpenView Venture Partners, will join Skytap's board of directors. "After evaluating the emerging cloud market it became very clear that Skytap is a driving force in cloud automation and a breakout success in every sense of the word," said Maxwell. "The company's market leading cloud automation solutions are some of the most complete and well-received offerings on the market. We're eager to contribute to Skytap's future growth and lead this round of funding."

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