Mobile Social Network Mozat Makes Waves In Asia, Raises Funding
From: Tech Crunch
Mozat, the mobile social networking platform formerly known as Morange, is making strides in Asia and the Middle East. The eponymous company behind the app has just announced that it has surpassed 10 million registered users, predominantly based in those regions. The startup has also disclosed that it raised a Series A funding round led by JAFCO Asia earlier this year, although it didn’t disclose the size of the investment.
Mozat is in the mobile social networking business, and markets free J2ME and Symbian clients, a Windows Mobile and an Android app. The company currently doesn’t offer custom apps for iPhone, BlackBerry or Palm WebOS devices (yet), but we should note Mozat targets consumers in regions where those are not nearly as popular as in most Western countries.
Mozat is similar to apps like eBuddy and Nimbuzz, as it enables users to connect and communicate with friends on MSN, YAHOO, ICQ and AOL using a single application. It also boasts other tools like email, chat, photo sharing apps and games, which it distributes through a custom ‘Application Center’ which functions much like Apple’s App Store or the Android Market. Mozat’s main objective for 2010 is to sign up more mobile operators and ISPs in Asia and the Middle East in order to increase their foothold as the carriers in those regions prepare to roll out more powerful networks in the near future.
Read more at The Washington Post.
Swype scores $5.6M in funding
From: RCR Wireless News
Following the launch of the first device using its technology, Swype Inc. announced it has secured $5.6 million in series B funding led by Samsung Ventures, Nokia Growth Partners and returning investor Benaroya Capital. Swype said the funds will be used to further fuel its partnerships integrating its technology into more mobile handsets and ultimately expand to other touch and remote screen devices.
Swype’s technology allows users to connect letters on a “soft” keyboard to spell out words instead of having to hit individual “keys.” The technology recently launched on Samsung Electronics Co. Ltd.’s Omnia II smartphone that is available through Verizon Wireless.
“The level of confidence shown by investors in our Series B, especially coming from two of the largest device manufacturers in the world and a returning investor, demonstrates the viability of our product and the known added value it can bring to mobile devices,” said Mike McSherry, CEO of Swype. “We’re thrilled with these strategic partners and look forward to launching Swype on a number of new devices and platforms.”
Read more at RCR Wireless News.
Canadian carrier stocks down as Globalive gets OK to launch
From: RCR Wireless News
Wireless carrier stocks in Canada dropped a bit after Industry Canada ruled Globalive Wireless Management Corp. will be allowed to launch service in Canada after all. Stocks were down a bit in early trading today.
“Globalive is a Canadian company, and meets Canadian ownership and control requirements under the Telecommunications Act,” said the Honourable Tony Clement, Minister of Industry. “We take this decision very seriously. It is based on the application of these requirements to the facts in this case.”
Industry Canada overruled the Canadian Radio-television and Telecommunications Commission, which ruled in October that Globalive failed to meet Canadian-ownership rules for telecommunications carriers. The Canadian Radio-television and Telecommunications Commission at the time ruled that Globalive is 65%-owned by Orscacom Telecommunications Holdings, an Egyption-based company. Globalive paid $442 CND for an AWS license in 2008 as part of a government auction to increase competition in the country, where Rogers Communications Inc., Telus Corp. and Bell Canada Inc. dominate the telecom market. Incumbents petitioned the government for the ownership ruling.
In its decision, Industry Canada said its ruling is narrow. “In varying the CRTC decision, the government is not removing, reducing, bending or creating an exception to Canadian ownership and control requirements in the telecommunications and broadcasting industries. The government’s decision to vary is specific to the facts of this case.”
Rogers’ stock dropped almost 7% on Friday, following the news, while BCE stock dropped nearly 3% and Telus stock dropped 2%.
“We are disappointed with Cabinet’s decision to give one competitor a unique advantage, after bidders that spent $4 billion in the last auction were explicitly told that the rules prohibited foreign ownership and control,” said Michael Hennessy, Telus senior vice-president of Regulatory and Government Affairs. “This decision has implications extending well beyond the telecommunications industry, given it creates a precedent on what constitutes compliance with foreign control restrictions.”
Read more at RCR Wireless News.
AT&T completing asset swap with Verizon in Q1
From: IT Knowledge Hub
AT&T said its $2.35 billion purchase of some Verizon Wireless assets will close in the first quarter of next year instead of the fourth quarter, as previously expected. Verizon Wireless was required to divest the assets as part of its acquisition of Alltel.
Additionally, AT&T said the transfer to Verizon of five service areas AT&T was required to divest as a condition of its acquisition of Centennial Communications will close in the first quarter.
Both of the deals are still subject to approval by the FCC and the Department of Justice.
Under the exchange, first announced in May, AT&T will net 1.5 million new subscribers in 79 service areas spread across 18 states; Verizon will get around 120,000 subscribers in five service areas in Louisiana and Mississippi. AT&T completed its acquisition of Centennial in November and Verizon’s acquisition of Alltel closed last January.
The Alltel assets AT&T is acquiring use CDMA technology, and AT&T said it will convert the network to the GSM technology it uses. In May, AT&T said the conversion will take no longer than a year from when the deal closes, and will result in an additional planned capital investment of around $400 million over 2009 and 2010.
Read more at IT Knowledge Hub.
American Tower may buy Essar unit for $400mln
From: Reuters
Wireless tower firm American Tower Corp (AMT.N) is expected to take a controlling stake in India’s Essar Telecom Infrastructure in a deal valued at $350-$400 million, the Economic Times reported on Thursday. The deal may be announced in the first week of January and Barclays Capital is advising Essar on the transaction, the newspaper said, citing an unnamed official in one of the two companies.
Read more at Reuters.
