CellNet Data Systems Closes $125 Million Private Placement To Fuel Company's Long-Term Growth.SAN CARLOS San Carlos (săn kär`lōs), residential city (1990 pop. 26,167), San Mateo co., W Calif.; inc. 1925. The chief manufactures are plastic products, hardware, and machine parts. , Calif.--(BUSINESS WIRE)--June 20, 1995--CellNet Data Systems, the leading provider of fixed-point wireless data communication services to the utility industry; today announced it has received $125 million in gross proceeds from the sale of Senior Notes to a number of telecommunications industry investors in a private placement. The Senior Notes are for a ten-year term, with no interest payments for the first five years. Warrants to purchase shares of the Company's common stock are attached. Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. Inc. initiated the transaction and served as Underwriter. Toronto Dominion Securites (USA) Inc. acted as Financial Advisor to CellNet. The company has previously closed $37 million in private equity since August, 1994. Shareholders include AT&T Ventures, Hambrecht & Quist, Kleiner, Perkins, Caufield & Byers, and Toronto Dominion Investments, among others. Proceeds from the sale will be used to fund the Company's rapid growth, for further deployment of its wireless data networks for utility applications, and for the development of related applications such as vending machine vending machine, coin-operated, automatic device for selling goods. Many vending machines are capable of making change, and some of the more sophisticated ones accept paper money or credit cards. monitoring and home security. "CellNet offers utility companies a very cost-effective wireless data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. technology to automate manual processes, expand and improve customer service, and respond faster to emergency power problems at a time when many of these companies are preparing to move into a competitive environment where improved service and operating efficiency are vital to their success," said John M. "Mick" Seidl, CellNet's president and chief executive. "This significant additional funding allows us to rapidly deploy the networks required to serve our customers and also enhances the opportunity to deploy our technology in other applications." Already installed at Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). Power & Light, Northern States Power, Georgia Power Georgia Power is an electricity corporation based in Georgia. It is the largest of the four electric utilities that is operated by Southern Company. Georgia Power is an investor-owned, tax-paying public utility that serves more than two million customers in all but four of , and Pacific Gas & Electric and soon to be deployed by other major utilities, CellNet's products provide a wireless service to collect data and deliver information to a utility's information system. These capabilities are particularly attractive, because the utility market is rapidly shifting from geographic monopolies to open-market competition and utility companies are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. better ways to manage assets, operate more efficiently and stave off stave n. 1. A narrow strip of wood forming part of the sides of a barrel, tub, or similar structure. 2. A rung of a ladder or chair. 3. A staff or cudgel. 4. Music See staff1. multi-billion investments in additional capacity. In addition, the CellNet network provides vastly improved customer information that enables companies to differentiate their services. CellNet's service makes new and enhanced customer options possible, allowing utilities to compete more broadly on a service basis. For example, utilities can offer new their customers options such as summary billing, selectable bill dates and lower prices for off-peak consumption. CellData Systems, Inc. markets low-cost wireless network services to the utility industry. The CellNet system collects timely usage data and delivers information utilities can use to create a strategic, competitive advantage. The network can also be used for other non-utility wireless data applications. The company, based in San Carlos, Calif., was founded in 1984 and can be reached at 415-508-6000. -0- Note to Editors: A color image A (digital) color image is a digital image that includes color information for each pixel. For visually acceptable results, it is necessary (and almost sufficient) to provide three samples (color channels of CellNet's wireless data transmitter can be obtained from the BusinessWire photo service. CONTACT: CellNet Virginia Richmond, 415/508-6141 Paul Manca, 415/508-6740 or Copithorne & Bellows, Jim Calhoun James A. Calhoun (born May 10, 1942 in Braintree, Massachusetts) is the head coach of the University of Connecticut's men's basketball team. He has won two national championships, the 1999 and 2004 NCAA titles, as well as the 1988 NIT championship. , 415/975-2238 |
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