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IPWireless Sold to its Management

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IPWireless was been sold to its management by its parent company, NextWave Wireless and secured long term financing with a significant (if unnamed) strategic partner. IPWireless was founded in 1999 and was acquired in May, 2007 by NextWave Wireless and became part of the NextWave Network Products division. In an announcement on December 26, 2008 NextWave disclosed that it had sold 75 percent of IPWireless to IPW Holdings, an entity formed by the senior IPWireless management team.

With the closing of the transaction, IPWireless returns to being a private, independent company that will be led by the entire management team that went to NextWave. NextWave Wireless will retain a minority ownership stake in the company. The company will continue to have its two primary locations in San Bruno, California and Chippenham, UK.

"Over the past decade, IPWireless has proven its ability, over and over again, to pioneer innovative 3GPP solutions that dramatically broaden the possibilities of wireless for our customers in both government and commercial markets," said Dr. Bill Jones, co-founder and CEO of IPWireless. "We are excited that not only do we have the right team and financial resources in place to continue to build on this excellent track record but now also the flexibility and strategic focus that are unique to management-controlled ventures."

In 2007, IPWireless announced that it had provided more than 600 base stations and 2,000 sectors of capacity to power T-Mobile's "Internet 4G" service, which covers more than 60% of the Czech Republic and delivers over 10 terabytes of data each day. The Company's mobile broadband solutions are also used in the government sector, providing the underlying technology for the New York City Wireless Network (NYCWiN), which is being deployed by Northrop Grumman.

In 2007, the company announced a successful technical trial of TDtv with Orange, Vodafone, Telefonica, and 3UK. Based on the success of the Bristol technical trial, Orange, and T-Mobile announced in early 2008 the launch of a commercial TDtv pilot in West and Central London.

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