Tuesday, January 2, 2007

NextWave Wireless to Acquire GO Networks for Metro WiFi

San Diego-based NextWave Wireless will acquire GO Networks, a privately-held developer of 802.11 based mobile broadband wireless solutions for wide area, high capacity metropolitan deployments.

GO's Metro Broadband Wireless (MBW) system is a highly-scalable Wi-Fi network solution that combines a proprietary adaptive beamforming antenna engine with a self-organizing and multi-frequency mesh architecture.

GO Networks is headquartered in Mountain View, California and has its research and development facilities in Tel Aviv, Israel.

NextWave will pay approximately $13.3 million in cash at closing. Additional consideration of up to $25.7 million will be paid in NextWave common stock, based on the achievement of certain operational milestones in the 18 month period subsequent to the closing of the acquisition, as specified in the agreement. NextWave will also assume GO's existing obligations totaling approximately $7.46 million, of which $1.33 million will be paid at closing and the balance will remain in place following the merger.

NextWave Wireless develops WiMAX semiconductors, network components and complete wireless LAN/WAN network solutions. Its PacketVideo subsidiary, a global provider of embedded multimedia software for mobile phones and converged devices, provides a wide range of multimedia solutions to many of the leading wireless carriers and handset manufacturers worldwide. The company was founded in 2005 by veterans from AT&T Wireless, Intel, Microsoft, Motorola, Nokia, QUALCOMM, and Texas Instruments.

NextWave has acquired a nationwide spectrum footprint in the U.S. that covers 247 million people and owns nationwide WiMAX spectrum in Germany through a majority-controlled joint venture. The company intends to partner with companies to deploy next-generation wireless broadband networks on its spectrum that utilizes its next-generation wireless broadband products and technologies.

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