NextWave Wireless has announced that it is paying $100 million to buy privately-held, IPWireless, which is widely recognized as a foremost supplier of TD-CDMA network equipment and subscriber terminals.
Under the terms of the agreement, NextWave will pay approximately $100 million at closing, consisting of $25 million in cash and $75 million in NextWave common stock. Additional consideration of up to $135 million will be paid based on the achievement of certain revenue milestones in the 2007 ? 2009 timeframe.
IPWireless is expected to operate as a wholly owned subsidiary of NextWave.
"IPWireless and NextWave will work together to expand IPWireless' product portfolio to incorporate WiMAX and/or Wi-Fi technologies for those service providers and equipment vendors that require such solutions," said Allen Salmasi, chairman and chief executive officer of NextWave Wireless.
Mobile broadband networks that utilize IPWireless? TD-CDMA technology have been commercially deployed in more than a dozen countries, including the Czech Republic, New Zealand, Germany, South Africa, Sweden, the UK and the USA. "
Posted to the site on 9th April 2007
Posted to: www.cellular-news.com/story/23052.php