2/21/2002 - Lantronix, Inc. (Nasdaq: LTRX) and Motorola, Inc. (NYSE: MOT), today announced that they have made a strategic investment in Xanboo, Inc. Xanboo is a privately-held developer of technology that allows users to control, command and view their home or business remotely over the Internet. Lantronix will receive Series B Preferred Stock in consideration for its investment, and will hold two seats on Xanboo's board of directors. Motorola Ventures, the global, strategic venture capital investment arm of Motorola, Inc. made the investment in Xanboo and will hold one seat on Xanboo's board of directors. The Lantronix-led round of financing raised approximately $20 million for Xanboo, all in Series B Preferred Stock, with additional investors including Virata Corporation.
Previous Page | News by Category | News Search
If you found this page useful, bookmark and share it on: