San Diego, United States
NextWave Wireless Inc. (NASDAQ: WAVE), a global provider of mobile broadband products and technologies, has announced that it has signed a definitive agreement to acquire all shares of IPMobile, a Tokyo-based telecommunications company, held by Mori Trust Co., Ltd., of Japan. Upon closing of the transaction, NextWave will hold a 69.2% stake in IPMobile. The agreement is subject to required government approvals. Terms of the agreement were not disclosed.
"NextWave, through its IPWireless subsidiary, is a leading global supplier of TD-CDMA wireless broadband products and networks. Our investment is aimed at helping IPMobile accelerate its deployment of this powerful 4G wireless broadband technology before the end of this year in Japan, one of the most advanced telecommunications markets in the world," said Allen Salmasi, chairman and chief executive officer of NextWave Wireless. "The 2 GHz spectrum allocated to IPMobile by MIC specifically calls for the deployment of TD-CDMA technology in Japan. We intend to help IPMobile implement one of the first 4G wireless broadband network deployments that can provide speeds of up to 30 Mbps and support a wide variety of user applications including bandwidth-intensive video streaming applications."
Founded in 2002, IPMobile received a nationwide concession of spectrum in the 2 GHz frequency band from the Ministry of Internal Affairs and Communications in November 2005. IPMobile has been working with IPWireless towards a commercial launch of a TD-CDMA wireless broadband network by November of this year.
"After the launch of IPMobile's commercial network later this year, we look forward to following up with world-class companies in Japan to invest in the future of IPMobile's business in order to bring new and exciting mass-consumer devices and applications to Japan's marketplace and to extend Japan's global leadership in wireless broadband services and technologies," added Salmasi.
About NextWave Wireless Inc.
NextWave Wireless supplies a broad range of advanced mobile broadband and wireless multimedia products and technologies to many of the largest mobile device manufacturers, network equipment suppliers, and wireless service providers in the world. NextWave's products include WiMAX/Wi-Fi semiconductors, TD-CDMA mobile broadband systems, wide-area Wi-Fi networks, and device-embedded multimedia software solutions. The company develops and markets its products through its family of world-class operating companies which include NextWave Broadband Inc., PacketVideo Corporation, IPWireless, Inc., and GO Networks, Inc. NextWave's extensive portfolio of licensed spectrum holdings include nationwide spectrum in Austria, Canada, Croatia, Germany, Slovakia, Switzerland and the U.S. The company is making its spectrum available to customers of its advanced mobile broadband products and solutions who require spectrum for their deployments. NextWave Wireless is headquartered in San Diego, California, U.S.A., and has offices in over a dozen countries. Visit NextWave Wireless at www.nextwave.com.
Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" for purposes of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual events or results could differ materially from the events or results predicted by such statements. Important factors that could cause actual events or results to differ materially are discussed in greater detail in the filings of NextWave with the Securities and Exchange Commission. All such documents are available through the SEC's website at www.sec.gov. NextWave makes no commitment to update any forward-looking statements in order to reflect subsequent changes in events or circumstances except as may be required pursuant to applicable law.
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Source: Business Wire (Business Wire India)