Investee Company – Cambridge Positioning Systems.
Investee Company Country – United Kingdom.
Investee Company Business Type – Mobile technology company.
Type of Financing – Expansion financing.
Equity Providers – Prelude Trust, Ericsson Holding International BV, Intel Capital, 3i, Alta Berkeley, Argo Capital, CRIL, Infineon, Mustang Ventures, Sofipa International.
Equity Leader (Individual) – No individual equity leader – it was a syndicate from the investing companies.
Debt Providers – None Provided.
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – $32 million (Euros34.6 million).
Total Deal Value – $32 million (Euros34.6 million).
Other Advisors – UBS Warburg acted for Cambridge Positioning Systems.
Comments – Cambridge Positioning Systems, the leading developer of the Enhanced Observed Time Difference (E-OTD) method of mobile location and location based service solutions, has completed its third round of funding.
This latest round of funding will be used to enhance the technology that Cambridge Positioning Systems use, providing a more powerful service to its customers.
Cambridge Positioning Systems specialises in the provision of mobile location systems and services for mobile phone users.
It currently has two product streams to its business: Cursorä, a high accuracy location technology; and Covergeä, a wide range of location-based applications for corporate and consumer use.
Chris Wade, chief executive officer of Cambridge Positioning Systems, said: “Our goal is to drive high-accuracy mobile location technology and services to enhance future mobile revenues and penetration in current and 3G mobile services.”
The size of the group investment in Cambridge Positioning Systems is a testament to its global leadership in the fast emerging location business, and the strength of the management team, according to Dr Robert Hook, Director of Prelude.