Wednesday, July 11, 2007

NextWave to Acquire Mori Trust Interest in Tokyo's IPMobile

NextWave Wireless agreed to acquire all shares of IPMobile, a Tokyo-based telecommunications company, held by Mori Trust Co., Ltd., of Japan, for an undisclosed sum. The deal will give NextWave a 69.2% stake in IPMobile.

Founded in 2002, IPMobile received a nationwide concession of spectrum in the 2 GHz frequency band from Japan's 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.

NextWave Wireless supplies a broad range of mobile broadband and wireless multimedia products and technologies, including 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 operating companies, which include NextWave Broadband, PacketVideo, IPWireless, and GO Networks.

  • Earlier this month, NextWave Wireless announced that it had acquired a 65% controlling interest in WiMAX Telecom AG, a Zurich-based operator that has obtained nationwide wireless broadband spectrum concessions in Austria and Slovakia, and a major spectrum concession in Croatia.

  • In April 2007, NextWave Wireless agreed to acquire IPWireless, the leading supplier of TD-CDMA network equipment and subscriber terminals, for approximately $100 million at closing, consisting of $25 million in cash and $75 million in NextWave common stock.