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Blue Jeans Networks secures USD 50 mln in new funding
2013-09-18 17:23:00| Telecompaper Headlines
(Telecompaper) Global provider of interoperable video collaboration services, Blue Jeans Network has secured USD 50 million in new funding led by Battery Ventures. Blue Jeans Networks also announced that it has surpassed 2,000 business customers and three million participants consuming more than 100 million minutes annually. The new funding will accelerate the company's domestic and global market expansion and also support product innovation. The recent round of funding, led by Roger Lee of Battery Ventures, brings the total overall financing Blue Jeans has received to nearly USD 100 million. Existing investors Accel Partners, New Enterprise Associates and Norwest Venture Partners also participated in the financing. The funding will also fuel market expansion with new offices in San Francisco and new operations in Europe and Australia.
World Bank to buy $63 mln in Costa Rican forest carbon credits
2013-09-13 12:43:00| Climate Ark Climate Change & Global Warming Newsfeed
Reuters: The World Bank's Carbon Fund signed a deal on Tuesday with the government of Costa Rica to buy up to $63 million worth of forest-based carbon credits, the bank said. The agreement will allow the Central American country to expand a local program that pays landowners for conserving forests to an additional area of 340,000 hectares. The final price for each credit will depend on negotiations that will be carried by the World Bank's Forest Carbon Partnership Facility (FCPF) with Costa Rica's officials,...
Extreme Networks buys Enterasys for USD 180 mln cash
2013-09-12 16:24:00| Telecompaper Headlines
(Telecompaper) Ethernet switching specialist Extreme Networks has entered into a definitive agreement to acquire Enterasys Networks for USD 180 million in cash. The combined entity will continue to support the product roadmaps of both companies going forward, in order to protect the investments of current customers and avoid any disruption to businesses. The companies wants to combine the ExtremeXOS and Enterasys network operating systems within two years, and so fully support both hardware platforms. Combined revenues are expected to be double that of either company alone. Significantly increased scale is expected to enable greater investments in R&D. The operating margin of the combined entity is also expected to increase over time as synergies are realised. The acquisition, excluding transaction, integration and purchase accounting related costs, is expected to be immediately accretive. The deal is subject to customary closing conditions and regulatory approvals and is expected to close in the fourth quarter. The acquisition was approved by the board of directors of each company. Extreme Networks has received a preliminary debt commitment to finance at least USD 75 million of the purchase price, with the balance to be funded from cash on hand. The closing of the transaction is not conditioned upon the receipt of any bank financing.
Tags: cash
networks
usd
extreme
Govt sets up $2 mln fund to help SMEs caught by food scare
2013-09-11 07:58:47| Food - Topix.net
The government has set up a $2 million fund for small and medium sized exporters whose business has been caught up in Fonterra Cooperative Group's false food scare.
Bangladesh raises USD 735 mln in 3G auction
2013-09-08 13:29:00| Telecompaper Headlines
(Telecompaper) Bangladesh's four mobile operators have secured 3G spectrum after an auction on 08 September organised by the Bangladesh Telecommunication Regulatory Commission (BTRC). Grameenphone, the largest mobile operator in the country, acquired 10 MHz in the 2,100 band for USD 210 million. Robi, Banglalink and Airtel each acquired 5MHz for USD 105 million. Teletalk, the sole state-run mobile operator, will be awarded 10 MHz spectrum for USD 210 million. The BTRC sold in total 35 MHz of spectrum for USD 735 million, the Dhaka Tribune reported. A total 40MHz was available in the auction. The reserve price was USD 20 million per MHz. Citycell, the oldest operator, sat out the auction after it was unable to raise the necessary financing.
Tags: usd
auction
bangladesh
raises
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