IP Unity Snares Glenayre Messaging

IP Unity Corp., a Milpitas, Calif.-based provider of carrier-grade media servers, has agreed to acquire Glenayre Messaging from Glenayre Technologies Inc. (Nasdaq: GEMS) for $25 million. IP Unity said that its investors are supporting the transaction, which is expected to close within 30 days. It has raised over $85 million in VC funding from firms like Battery Ventures, Coral Capital, Kleiner Perkins, New Enterprise Associates, Partech International, Siemens Venture Capital, Sumitomo Corp. and Telus Ventures. www.ip-unity.com www.glenayremessaging.com