Globalstar L.P. of San Jose, Calif., said it has completed a five-year, $250 million bank financing. The company said that with the bank facility, its remaining external financing requirements are about $600 million for the $2 billion Globalstar project. Globalstar will offer digital global telephony to areas underserved or not served by existing wireline and cellular systems.
Memphis, Tenn.-based Celcore announced it completed a private placement equity offering, raising $18 million. The company said the capital will fund expanded operations domestically and internationally as well as the development of new technology for the Global System for Mobile communications and personal communications services markets. Offering underwriters were Robertson Stephens & Co. and Salomon Brothers Inc.
Daniels & Associates said Page East Inc. acquired Coastal Carolina Communications Inc. The sale represents 4,300 paging units in Greenville, Goldsboro, Rocky Mount and Wilson, N.C.
Geotek Communications Inc. said its Nepean, Ontario-based subsidiary, GMSI Inc., has entered the second stage of its agreement with CEI Technologies Pte Ltd, a subsidiary of Singapore Technologies, to provide Comfort Transportation Pte Ltd Cars with an additional 4,000 dispatch and mobile data communications systems for its taxi fleet.
Contact New Mexico Inc. has acquired A Crystal Clear Paging Co., a provider of paging services in San Antonio, Texas, said Daniels & Associates. The transaction links Contact New Mexico with the largest regional paging network covering New Mexico, Texas, Arkansas and Oklahoma, representing 13,000 paging units.
Mobile Telecommunication Technologies Corp. said its SkyTel Corp. subsidiary has obtained a $250 million secured revolving credit facility from a syndicate of financial institutions. Mtel said it will use the new credit facility for capital expenditures, working capital and other corporate purposes.
Cellular Communications Inc. announced it has authorized the repurchase of up to 2.5 million additional shares of CCI’s Series A common stock through open market purchases from time to time as market conditions warrant.
Telular Corp. entered into a preferred global supply agreement with Phoenix Wireless Group. Telular said it will provide fixed wireless equipment to Phoenix Wireless for Phoenix’s turnkey wireless local loop and fixed wireless infrastructure bids worldwide.
