Magnet Systems Attracts $35.4M Form HTC

Palo Alto-based Magnet Systems, which develops enterprise middleware software for enabling mobile applications, has raised $35.4M from mobile phone maker HTC. HTC announced the acquisition in filings in Taiwan. The deal gives HTC 17.1 percent of Magnet Systems. Magnet Systems is headed by Alfred Chuang, formerly Chairman of BEA Systems. Magnet's other investors include Andreessen Horowitz. More information »