SiliconBeat

IPass, the Redwood City developer of business-mobility software whose board has spent much of the last two years struggling with large and disgruntled investors, has agreed to “take steps to return to shareholders” up to $40 million, according to a deal it has reached with Foxhill Master Fund. Foxhill, which owns about 7 percent of iPass’s outstanding shares, had launched a proxy battle to declassify the iPass board, forcing all directors to stand for re-election each year rather than serving in various overlapping terms. It also nominated three people of its own choosing to serve on the iPass board.

One of the three, Kenneth Traub, has been Read the rest of this entry »

The housing market in Seattle is proving to be a bigger concern than originally thought for Evan Kaplan, the new chief executive at iPass, the Redwood City developer of software designed to help mobile work forces.

When he signed on as CEO last November, among the benefits he was offered was up to $10,000 per month in temporary living expenses during the first six months of his employment. The arrangement was to end sooner if Kaplan Read the rest of this entry »

IPass, the Redwood City developer of business-mobility software that has been struggling with disgruntled investors for more than a year, now has a proxy battle on its hands with a proposal  to declassify the iPass board being made by by its third largest shareholder, Foxhill Master Fund, which wants each director to stand for election every year, rather than serving staggered three-year terms.

Foxhill is also putting forward at least three Read the rest of this entry »

IPass chief executive Evan Kaplan said the company has “initiated a reduction in force that will affect a total of approximately 70 people from a global workforce of approximately 520,” in order to “free up resources” for strategic investments he wants to make to transition the supplier of remote access tools for mobile workers to “3G mobile broadband.”

A more prosaic reason given for the job cuts was Read the rest of this entry »

IPass, the Redwood City developer of business-mobility software that has been struggling with disgruntled investors this year who have urged the company to sell itself, named a new chief executive Monday to take over later this month to replace current CEO Kenneth Denman, who will be leaving the company (drum roll, please) “to pursue other business opportunities.”

One job Denman will immediately give up is Read the rest of this entry »

IPass, the Redwood City supplier of business mobility software that struggled earlier this year with Shamrock Capital Advisors over representation its board and the notion of putting itself up for sale, now has a new disgruntled investor on its hands according to an SEC filing made Monday by Foxhill Capital Partners. In it, the Princeton, New Jersey-based investor disclosed owning 3.57 million shares of iPass, or 5.8 percent.

The filing includes a letter sent by Foxhill to the iPass board on June 25 that makes reference to a June 2 conference call between Foxhill and representatives of the iPass board in which Foxhill manager Neil Weiner asked the board to “immediately commence a process to initiate the sale Read the rest of this entry »