Ours is not to reason why, ours is to tell you Lightyear’s buying Wherify.
A CLEC plus a GPS technology company? Curious.
Terms weren’t disclosed although one of the conditions is that the companies will secure $15 million in new equity capital, restructure debt and convert Wherify’s preferred stock.
Lightyear President and CEO Sherm Henderson also will serve as head of Wherify.
Silicon Valley/San Jose Business Journal: Wherify, Lightyear plan merger
BusinessFirst: Lightyear merging with California company