IPass Completes Sale Of Unity Business Unit; Backs Q2 Outlook - Quick Facts

(RTTNews) - iPass Inc. (IPAS) announced Tuesday that it has completed the sale of its Unity Managed Network Services business unit for $28.2 million to Tolt Solutions.

In addition, the company will continue to expand its customer base and build deeper relationships with its over 700 current customers including enterprises like Cisco, Oracle, SAP and Nestle as well as service providers like Deutsche Telekom, Orange and Telstra.

iPass reaffirmed its guidance for second quarter 2014 results for the entire Company, including Unity. In May, the company said it expected Adjusted EBITDA Loss to be in the range of $2.5 million-$4.5 million, and total revenue of $24.0 million - $28.0 million for the second-quarter. Analysts polled by Thomson Reuters expect the company to report revenues of $25.33 million for the second-quarter. Analysts' estimates typically exclude special items.