Financial

Validic secures investment funding of $1.25 million

Mobile health platform provider Validic has secured additional investment funding totaling $1.25 million and announced several new management appointments.

The funding comes in the form of a convertible note from SJF Ventures (Durham, NC, USA) and individual angels and takes the total funding Validic (Durham, NC, USA) has received to $2.1 million.

Telit net income almost trebles on soaring M2M demand

Module maker Telit has reported soaring revenues and profits for the 2013 financial year thanks to strong demand for its expanding range of M2M services.

Net income shot up from $3.88 million in 2012 to $10.87 million in 2013, while revenues increased by 17.3%, to $243 million, over the same period.

Results were boosted by the takeover of cloud specialist ILS Technology (Boca Raton, FL, USA) in September, but also reflected organic growth in each of the EMEA, Americas and Asia-Pacific regions.

Smart Metering Systems flags 53% profit growth in 2013

UK-based Smart Metering Systems has reported impressive gains in net income and revenues for 2013 on the back of rising demand among gas suppliers for its range of technology products.

The company’s net income rose to £6.6 million ($10.98 million), from £4.3 million in 2012, while sales increased from £21 million to £27.9 million over the same period.

CeBIT 2014: Cameron to double UK funding for M2M

British prime minister David Cameron has announced a £45 million ($75 million) funding boost for the development of M2M technologies, including services aimed at reducing energy consumption, according to press reports.

Speaking at this week’s CeBIT IT tradeshow in Hannover, Germany, Cameron is reported to have said the UK government will double public-sector funding for companies addressing opportunities in the fast-growing M2M sector.

Bouygues to sell network to Iliad if SFR merger approved

French telecoms player Bouygues has agreed a €1.8 billion ($2.5 billion) sale of its mobile-phone network to rival Iliad on the condition that French competition authorities approve its €14.5 billion takeover of SFR, the country’s second-biggest mobile operator.

Announced at the weekend, the deal would see Bouygues (Paris, France) transfer ownership of its mobile network and a batch of frequencies to Iliad (Paris, France), which currently rents capacity on the network of Orange (Paris, France) to provide mobile-phone services under the Free brand.

Deutsche Telekom cuts earnings targets to fund US expansion

Deutsche Telekom has slashed its free cash flow target for 2015 from €6 billion ($8.33 billion) to little more than €4.2 billion owing to the investment demands of its T-Mobile US subsidiary.

Reporting full year results, the operator said it would increase spending on the rollout of its LTE network using the 700MHz frequencies it recently acquired from Verizon Wireless (New York City, NY, USA).

Its goal is to extend coverage to about 250 million people, up from 225 million at the end of 2013.

Sierra Wireless completes $21 million takeover of In Motion

M2M player Sierra Wireless says it has completed its $21 million takeover of Canada’s In Motion Technology.

The deal was announced as recently as January and is aimed at bolstering the position of Sierra Wireless (Richmond, Canada) in the transit and commercial fleet markets.

In Motion (New Westminster, Canada) provides so-called ‘rugged’ in-vehicle mobile routers that can be tightly integrated with security systems and management and application platforms.

Wyless agrees takeover of European M2M player Aspider

M2M managed-services player Wyless has agreed a takeover of Aspider M2M, a mobile virtual network enabler (MVNE) based in the Netherlands.

Aspider (Woerden, Netherlands) provides a range of M2M services to customers, mainly in the Benelux and German-speaking markets, and the acquisition by Wyless (Lawrence, MA, USA) – the terms of which were not disclosed – will give Wyless a stronger presence in Europe.

In a statement, Wyless said the Aspider business would be integrated with its UK division.

Warburg Pincus invests $32 million in telemedicine provider

Private-equity group Warburg Pincus has made a $32 million investment in Specialists on Call aimed at funding future growth initiatives.

The telemedicine player provides on-call coverage to suburban and urban acute-care hospitals using videoconferencing technology – describing this as a “$3 billion addressable market”.

It claims that its teleconsultations service has already helped to address a shortage of specialty physicians for traditional on-call coverage, as well as challenges that many hospitals face in securing specialty physician services.

Telecom Italia denies talks about TIM Brasil, GVT merger: Reuters

Italian phone incumbent Telecom Italia has denied it is involved in talks to merge Brazilian subsidiary TIM Brasil with Vivendi-owned GVT, according to a report from Reuters.

The news comes after Brazilian daily O Estado de S. Paolo is said to have reported that Telecom Italia (Milan, Italy) recently met with Vivendi (Paris, France) managers to hold preliminary talks about a merger of the two businesses.

“(There are) no ongoing talks over a possible GVT [Curitiba, Brazil] deal,” a Telecom Italia spokesman is quoted as saying by Reuters.

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