SignalSoft Corp. (Nasdaq: SGSF) rose 4 7/8 to 21 7/8 Thursday. The Boulder, Colorado-based developer of software for wireless networks sold 4.4 million shares through a group led by Salomon Smith Barney.
SignalSoft’s Wireless Location Services products provide information, billing, safety and tracking services. In 1999, the company posted revenue of $2.12 million and a loss of $8.7 million.
SignalSoft also benefits from “a couple of interesting venture backers,” Hirschkorn told the E-Commerce Times.
In its prospectus, SignalSoft says it expects competition in the wireless location determination industry to intensify as the market develops. Competitors, it said, may include application service and infrastructure providers, as well as some current industry partners. The company also warned that competition may result in lower prices for its products, which would hurt results.