[May 24, 2013] Cubic Telecom secures $5.2 million in venture funding Tweet May 24, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- Cubic Telecom Limited, an Ireland-based provider of mobile communication services, has secured $5.2 million in venture funding from Enterprise Ireland, Qualcomm Incorporated, ACT Venture Capital Limited and TPS Investments. Deal Value (US$ Million) 5.2 Deal Type Venture Finance Sub-Category Growth Capital/Expansion Deal Status Completed: 2013-05-24 Deal Participants Target (Company) Cubic Telecom Group Limited Acquirer 1 (Company) Qualcomm Incorporated Acquirer 2 (Company) TPS Investments Acquirer 3 (Company) Enterprise Ireland Deal Rationale Cubic Telecom intends to use the funding to expand globally and invest in the technology which essentially allows it to operate like its own global mobile phone carrier, not as a mobile virtual network operator (MVNO). [ Back To TMCnet.com's Homepage ]