Communication Solutions Inc. awarded Conductus Inc. a subcontract, valued at about $1 million, to build a multichannel wireless receiver front-end enhanced by superconductors. The Baltimore-based company plans to integrate the front end into a high-performance system earmarked for a number of government communications applications, said Conductus. The Conductus technology used is an extension of that in its commercial ClearSite product, expanded to communications bands of interest to the government. The project is scheduled to take one year to complete.
GoAmerica Communications Corp., an Internet and intranet services provider, secured $3 million in financing from Zackfoot Investments L.L.C., New York. The $3 million is the first in a multistage financing plan, said GoAmerica. The money is expected to be used to fund sales and marketing, subscriber growth and strategic acquisitions. Zachary Prensky, president of Zackfoot, joined GoAmerica’s board of directors in connection with the financing.
Thirteen officers of Intek Global Corp. purchased an additional 14,602 shares of the company’s stock during the second quarter, under an ongoing quarterly employee stock-purchase program launched earlier this year. All company executives are making regular stock purchases every three months, said Intek. “The objective of this program is to directly align the financial interests of management with our shareholders,” said Robert J. Shiver, chairman and chief executive of Intek.
Pinnacle Holdings Inc. filed a registration statement with the Securities and Exchange Commission for an initial public offering to raise proceeds for the $170 million acquisition of 163 towers from MobileMedia Corp., said the company. The underwriting group will be managed by Morgan Stanley Dean Witter; Salomon Smith Barney; Goldman Sachs & Co.; NationsBanc Montgomery Securities L.L.C.; and Raymond James & Associates Inc.
CellNet Data Systems Inc. is testing its commercial data service with Xerox Corp., to enable selected Xerox equipment to communicate over CellNet networks, said the company. About 120 Xerox machines on the California State University-Los Angeles campus are part of the test. When connected to CellNet’s wireless network, the radio devices enable an electronic meter interface between the Xerox machines and a central customer billing location.
