BroadVision Announces Completion of Its Subsidiary Vmoso, Inc. Spin-Out via Private Placement
BROADVISION (BVSN)
US:NASDAQ Investor Relations:
broadvision.com/about-us/investor-relations/investor-overview
Company Research
Source: GlobeNewswire
REDWOOD CITY, Calif., Jan. 08, 2019 (GLOBE NEWSWIRE) -- BroadVision, Inc. (Nasdaq: BVSN), a leading provider of e-business and engagement management solutions, today announced that its subsidiary, Vmoso, Inc., has completed its private placement of Class A Common Stock, raising $3 million. Following the financing, BroadVision continues to hold shares of Preferred Stock of Vmoso, Inc. representing approximately 19.9 percent of Vmoso, Inc.’s outstanding shares and will provide substantially all of the personnel, facilities and equipment required for the activities of Vmoso, Inc. under a shared services agreement. Vmoso, Inc. holds all of the intellectual property and other assets related to BroadVision’s Clearvale and Vmoso platforms, including the current Clearvale and Vmoso products and the My Vmoso Network (MVN) development project. Proceeds of the private placement will be used to continue the commercialization of the Clearvale and Vmoso products and the development of MVN, whic
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