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Our Bureau

Bangalore , April 26

The mFormation Technologies Inc, player in mobile device management solutions space, has announced the close of a $15.3-million financing to extend the Series D round to $24.5 million. This brings the total investment in the company to about $50 million. Existing investors Alex Brown Venture Partners, Battery Ventures, Carmel Ventures, Intel Capital and North Bridge Venture Partners participated in the financing.

The release of the new funds will enable mFormation to expand its operating activities and solve the growing global demand for complete mobile device management solutions.

To expand operations

The additional funds will be used for expanding operations, reflecting the buoyant demand for its products and its geographical expansion, including the Asian market.

The New Jersey-based mFormation Technologies Inc has an office in India and is the leading provider of mobile device management software, offering a complete solution that enables mobile operators to rapidly accelerate their data revenues and reduce support costs. Its software manages a broad mix of mobile devices across multiple networks.

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