2013-01-24 07:04:52 - Secures next stage of growth and increases investment in market development, R&D, and new product development.
Media5 Corporation, a leading provider of IP-based multimedia communications solutions, announced today the successful completion of its capital reorganization program.
Completed by the executive management team with the support of outside financial and legal advisors, this capital reorganization brings the total investment in the company to $75.0M, and includes $26.5M of debt conversion into equity, establishment of a $2.0M working capital facility, and restructuring of the capital stock. The founding shareholders now own all outstanding shares of the company.
These financial events will allow the privately held company to increase investment in strategic R&D programs, accelerate new product development, and continue its expansion into growth markets worldwide.
Media5 products and technologies include VoIP equipment for communication service providers and enterprises,
equipment for the cable communications industry, and multimedia software solutions on mobile devices for wireless communications providers.
Media5 solutions have been certified and commercially deployed in 75 countries and are available through a global network of technology partners, marketing partners and distribution partners.
About Media5 Corporation
Media5 Corporation is a global supplier of multimedia communications solutions for fixed and mobile service providers, unified communications services, and hosted communications services.
Since it’s inception in 1992, Media5 has been headquartered in Sherbrooke, Quebec where the majority of its technical staff is located. Media5 has benefited from recruiting graduate candidates from many of the exceptional universities in Canada.
Media5 has regional offices in the United States, Europe, and Latin America. For more information, please visit www.media5corp.com