Wireless Services Raising VC Money To Fund Buys

Wireless Services Corp., which early this week acquired Mobile Media North America, is close to raising $30-35 million in venture capital, writes John Cook in his venture blog (Seattle Post Intelligencer), quoting a Dow Jones VentureWire report. The money will be used for additional acquisitions. The deal is expected to close in the next few weeks. Wireless Services, a spinoff from McCaw Cellular, was founded 10 years ago.
From the VentureWire story: Rich Begert, CEO at Wireless Services, or WSC, said the Series C round should close in the next few weeks…Through several rounds since 1996, WSC has so far raised roughly $18 million from investors including Intel Capital, Ignition Partners, SeaPoint Ventures, Madrona Venture Group and Northwest Venture Associates. All prior investors have re-committed for the upcoming round, Begert said.
Related: WSC Acquires Mobile Media’s North America Division

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