Mformation secures $20 million funding

Bangalore May 28: Mformation Technologies Inc., a leading mobile device management company, today announced that it has raised a round of financing of dollars 20 million.

The financing was led by expansion and late stage investor QuestMark Partners who participated in the financing along with Wasatch Cross Creek Capital, a private equity affiliate of Wasatch Advisors, Inc.

''We are pleased to welcome QuestMark Partners and Wasatch Cross Creek Capital as Mformation investors, in a round intended to strengthen the balance sheet of the company, and found new initiatives as our core business continues to accelerate'' said Mark Edwards, Mformation's CEO in a release here.

Mformation customers include leading global operators with more than 700 million subscribers world wide including Sprint-Nextel, Vodafone, T-Mobile, Telefonica, Telus and Cell-C. In February 2007, the GSM Association honoured Mformation with the global award for 'Best Service Delivery Platform'. Mformation was also named as one of IDC's 10 Emerging Mobile Players to Watch in 2007.

UNI