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Two Nokia-backed start-ups merge

Wireless software makers Bitfone and Digital Transit announced a merger on Monday. The lead investors in both companies were Nokia Venture Partners, a venture capital firm backed by cell phone juggernaut Nokia; investment bank Goldman Sachs; and BMC Software. Digital Transit makes software that upgrades the software on a cell phone through wireless networks. The company raised a $2.5 million first round last June. Bitfone software allows consumers to access, store and send photos, cartoons and images on their cell phones. The company completed its $6 million first round of funding in September. Bitfone's Gene Wang will remain chairman and CEO, while Digital Transit co-founders Patrick Lilley and Patrick O'Neill will become executive vice presidents of the combined company, which will be named Bitfone.

    Wireless software makers Bitfone and Digital Transit announced a merger on Monday. The lead investors in both companies were Nokia Venture Partners, a venture capital firm backed by cell phone juggernaut Nokia; investment bank Goldman Sachs; and BMC Software. Digital Transit makes software that upgrades the software on a cell phone through wireless networks. The company raised a $2.5 million first round last June. Bitfone software allows consumers to access, store and send photos, cartoons and images on their cell phones. The company completed its $6 million first round of funding in September.

    Bitfone's Gene Wang will remain chairman and CEO, while Digital Transit co-founders Patrick Lilley and Patrick O'Neill will become executive vice presidents of the combined company, which will be named Bitfone.