Mergers and Acquistions News
Categories: Telecoms
January 19th 2010, 16:57PM
California-based wireless product designer and developer AmbiCom Holdings, formerly Med Control, has announced the closing of a share exchange with AmbiCom Acquisition Corporation.
After completing a $500,000 (£306,000) private placement of common stock to institutional and private investors, the combined company will operate under the name AmbiCom and will assume and execute its wireless device business.
The company plans to use the funds it has received from the merger deal to strengthen its product offerings and corporate infrastructure, although it will retain senior management.
Chief executive officer John Hwang said: "The financial resources and corporate visibility provided by this transaction will enable us to broaden our investor base, recruit additional key team members and accelerate the development of our wireless medical devices."
In 2008, Ambicom was selected for the Best of San Jose Award in the Computer Networking category by the US Local Business Association, which recognises companies that have achieved exceptional marketing success.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)
- May 2011 (20)
- April 2011 (18)
- March 2011 (21)