Tuesday, July 31, 2007

MTM Technologies Raises $3.5 Million from Pequot Ventures - Stamford, CT

MTM Technologies, a Stamford-based provider of IT products to large and mid-sized companies, announced that it has raised $3.5 million of equity investment from Pequot Ventures, an existing investor in the company. "The additional preferred equity financing improves our working capital position and will help drive the continued execution of our positive Fiscal 2008 plan," said Jay Braukman, MTM's CFO. Also, on Monday, MTM announced that it anticipates that for the quarter ended June 30, its revenue will be about $67 million and income will be in the range of $500,000 to $550,000.



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