Reuters Group plc and Aether Systems Inc. launched their Sila Communications European wireless data joint venture, created to host, design and manage content and services for wireless customers. Headquartered in London, Sila will initially focus on financial services, providing Reuters content, Internet-based information and applications, e-mail and security capabilities independent of transmission network or device, the company said. Other services are expected over time. Aether contributed $15 million in cash and its recent $85 million acquisition of mobile financial data provider IFX Group plc to own 60 percent of the venture, while Reuters contributed $22 million and content for the other 40 percent.
Sierra Wireless Inc. announced a public offering of 2.2 million shares at $48.63 a share for stock that began trading on the Nasdaq National Index Friday. At the close of the exchange, shares were trading at $47.25.
United States Cellular Corp. said its board of directors has authorized the repurchase of up to 1.4 million additional common shares or approximately 1.6 percent of the shares outstanding. The company said it had about 86.3 million total shares on May 4. The board authorized U.S. Cellular’s management to use its discretion to make the purchases as market conditions warrant, on the open market or at negotiated prices in private transactions.
Nextel Communications Inc. extended its agreement with Brightpoint Inc. to supply inventory management, fulfillment, returns and repairs and outsourced accounts receivable management for Nextel’s U.S. operations. Brightpoint also will provide Web order entry capabilities, allowing Nextel authorized representatives to order products via the Internet. The contract extension runs through 2001.
H.O. Systems signed an all-inclusive contract with Iowa Wireless Services to provide its billing and customer-care services. Iowa Wireless represented H.O. Systems’ planned progression into the Global System for Mobile communications marketplace, according to the company. “GSM technology is the fastest growing segment of wireless service and we are positioned to maximize opportunities for growth,” said Hart Williford, president of H.O. Systems.
