FREMONT, CA — Cradle Technologies, Inc., the creator of the Universal Microsystem (UMS), today announced that it has completed a first close of $10 million toward its Series D round of financing. The financing, led by current investors Charter Ventures and Smart Technology Ventures, will enable Cradle to complete initial production and sampling of its products. This brings the total invested in Cradle to more than $40 million to date.
HELSINKI, FINLAND — Sonera Corp. (HEX: SRA, NASDAQ:SNRA) has today signed a Letter of Intent with 3i, Europe’s leading venture capital company to sell 100 % of Sonera Info Communications Ltd for a total cash consideration of EUR 125 million. The transaction also includes Sonera’s holdings in Conduit plc (10 %) and 118 Ltd (45 %) as well as Sonera Info Communications Ltd’s holdings in Intra Call Center SA (100%), in Suomen Keltaiset Sivut Oy (30%) and in Suomen Numeropalvelu Oy (40%). The shares of Metro One Telecommunications Inc. are not included in the deal. The parties expect the definitive agreement to be signed by the end of the year 2001. The deal is expected to close during first quarter 2002.
WAYNE, PA — Safeguard Scientifics, Inc. (NYSE:SFE), a leader in developing and operating emerging technology companies, today announced its operating results for the third quarter ended September 30, 2001. Safeguard’s third quarter results reflect continued strong financial liquidity, with $181 million in cash and public partner company marketable securities of $206 million as of September 30, 2001.
As of September 30, 2001, Safeguard’s cash balance was $181 million and the market value of its ownership in public partner companies was $206 million. As of November 7th, cash balances were $180 million and the market value of public partner companies was $223 million. This compares with $135 million in cash balances at June 30, 2001. During the third quarter, Safeguard monetized $63 million of interests in partner companies and private equity funds. This includes the previously announced sale of the Novell stock received from Novell’s acquisition of Safeguard’s interest in Cambridge, and the sale of Safeguard’s interest in the Safeguard International Fund.
SUNNYVALE, CA — Peakstone Corp., the pioneer of a new category of eBusiness capacity management solutions that quantify and proactively manage application infrastructure capacity, announced today that the company has received $12 million in Series C financing. The new round of funding, led by J.P. Morgan Partners and joined by existing investors Advanced Technology Ventures (ATV), JAFCO, and Bay Partners, brings Peakstone’s total funding to $32 million. Peakstone will employ these funds to continue to build a world-class marketing and sales organization and to further drive customer adoption of its enterprise infrastructure software solution, Peakstone eAssurance(TM).
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