ArrayComm Inc. announced it has closed a private equity placement totaling $12.3 million. The placement, which was oversubscribed, was managed by UBS Securities Inc. and Volpe, Welty & Co. ArrayComm said the placement will fund the completion of its wireless local loop product and broaden its technology licensing business, which includes contracts for the Personal HandyPhone System with Kyocera of Japan and for Global System for Mobile communications with Alcatel Telecom of France.
Conductus Inc. and Bell Laboratories, the research and development arm of Lucent Technologies Inc. have entered into a joint development agreement to produce a cryo-cooled filter/amplifier subsystem for personal communications services base stations. Conductus also announced the delivery in mid-April of a prototype of the receiver portion of the subsystem that included a tower-top electronics package. The unit provides multiple receiver circuits to improve uplink sensitivity offered for low power personal communications services handsets, said Conductus.
Redmond, Wash.-based Securicor Wireless Networks announced it has changed its name to Metapath Corp. The company said the change will take effect immediately. Metapath said it plans to broaden its target market to include wireline and cable companies. The corporation manages mission-critical information for telecommunications companies worldwide.
Ericsson Inc. announced it was awarded a contract from the Montgomery County Hospital District in Texas for a three-site simulcast system that will support Orion mobiles with countywide voice and data capabilities between the district’s emergency medical services and area hospital systems. Ericsson said its Enhanced Digital Access Communications System will integrate Global Positioning Satellite system technology with other voice and data elements to give the district improved management of ambulances. The system also will provide interoperability to area public safety systems and national calling channels, said Ericsson.
InterCel Inc. announced it has completed the issuance of $360 million aggregate principal amount at maturity of 12 percent senior discount notes due May 2006 in a public offering. The net proceeds from the offering will be used primarily to finance part of the development, construction, operating costs and certain acquisition expenses associated with the company’s personal communications services system, said InterCel. The company said the net proceeds will be held in escrow by Bankers Trust Co. until the completion of both the purchase of the Atlanta Major Trading Area from GTE Mobilnet Inc. and the related sale of 100,000 shares of the company’s series B convertible preferred stock to MPX Systems Inc.
