NextWave Wireless to Purchase Mori Trust Interest in IPMobile
NextWave Wireless says that it is buying all the shares in the Japan based, IPMobile which are held by Mori Trust. Upon closing of the transaction, NextWave will hold a 69.2% stake in IPMobile. Terms of the agreement were not disclosed.
"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," said Allen Salmasi, chairman and chief executive officer of NextWave Wireless.
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."
Posted to the site on 13th July 2007
