Firm to provide access to U.S. e-tailers

Article Abstract:

Borderfree.com (Toronto) provides Canadian shoppers with access to US e-tailers while removing border hassles and providing a final, no-surprise price in Canadian currency before the purchase is made. The company charges a service fee of about $5 on top of the item's price, taxes and customs duties for most purchases. The company, which acts as an intermediary between the consumer and the US e-tailer, has buyers download software that allows them to click on Borderfree.com's icon when they want to make a purchase. The transaction's details will be sent to Borderfree.com, which will then calculate the currency differences; shipping and duty; and the service fee, before quoting a final price to the consumer. The consumer then clicks on a link that offers shipping options and confirmation of the order. Borderfree.com's warehouse in Detroit stocks the purchase, which is then brought across the border into Windsor, Ont. Broderfree.com plans to make its money through commissions, as well as the service fees.

Borderfree.com

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Ottawa tech firm lands financing

Article Abstract:

Ottawa, Ont.-based Chrysalis-ITS Inc. has obtained $20.6 million in venture capital financing from a consortium of investors. Chrysalis-ITS, which is a Internet security software company, received the funds from an investors group led by Toronto, Ont.-based CIBC Capital Partners.

Prepackaged software, Computer Software, Software Publishers, Receipt of funds, Investment Offices, Investment Companies, Open-End Investment Funds, Use of Funds, Computer software industry, Software industry, Software, Finance, Investments, CIBC Capital Partners, Chrysalis-ITS Inc.

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Nortel nabs another hot tech firm

Article Abstract:

Brampton, Ont.-based Nortel Networks Corp. has acquired Fremont, Calif.-based Promatory Communications Inc. for $778 million in stock. Nortel, which is pursuing a strategy of buying Internet-based firms, will pay a mimimum of $705 million under the terms of the deal.

United States, Asset sales & divestitures, Acquisitions & mergers, Communications Equipment, Telecommunications Equipment, Communications Equipment Manufacturing, Mergers, acquisitions and divestments, Telecommunications equipment industry, Telecommunications systems, Nortel Networks Corp., NT, Promatory Communications Inc.

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