Google acquired software developer Android, while the newly formed Sprint Nextel was set to pay its CEO $1M in base salary … 11 years ago this week
Editor’s Note: RCR Wireless News goes all in for “Throwback Thursdays,” tapping into our archives to resuscitate the top headlines from the past. Fire up the time machine, put on the sepia-tinted shades, set the date for #TBT and enjoy the memories!
Google buys wireless software developer
Internet search giant Google Inc. is continuing its stealth move into wireless with the acquisition of software developer Android Inc., the company confirmed this week. The acquisition raised industry eyebrows due to Android’s wealth of talent and veil of secrecy. The startup was launched two years ago by Andy Rubin, who is credited with bringing the popular Hiptop device to market as Danger Inc.’s founder and chief executive officer. … Read More
Lauer to pull down close to $1M in new job
Newly formed Sprint Nextel Corp. released base salary and incentive targets for several of its executives in a Securities and Exchange Commission filing. Sprint Nextel Chief Operating Officer Len Lauer is set to receive $971,400 in base salary next year, while Chief Financial Officer Paul Saleh will receive $750,000 in base salary. Chief Strategy Officer Thomas Kelly will also receive $750,000 in base salary and was granted immediate vesting of more than 580,000 stock options. … Read More
Global Signal, USA Mobility ink tower-siting deal
Global Signal Inc. signed long-term master antenna site leases with USA Mobility Inc., opening the door for USA Mobility to lease space on sites owned or leased by Global Signal. Global Signal was negotiating a new lease with USA Mobility for the sites under the expired lease originally with Arch Wireless Holdings Inc., which merged with Metrocall Holdings Inc. to form USA Mobility. The leases apply to all equipment USA Mobility has on Global Signal’s sites and are backdated for an effective date of July 1, expiring Dec. 31, 2008. … Read More
WiMAX firms get more funding
Investors continued to get behind nascent WiMAX technology, with two service providers announcing successful funding rounds. California-based fixed-wireless Internet provider NextWeb said it snared $3.5 million in Series E equity financing and a revolving line of credit from Silicon Valley Bank. Kaiser Permanente National Ventures and Saints Capital initiated the round for NextWeb, which has accrued $10 million in financing since its founding in 1999. … Read More
Time Warner invests $7.5M in Glu
Time Warner Inc. is the latest media giant to join the stampede to the “third screen” with a $7.5 million investment in wireless game maker Glu Mobile. The stake was part of a $27.5 million haul in Series D financing for Glu (formerly Sorrent Inc. and Macrospace Ltd.), which has gained significant traction in the gaming sector. Granite Global Ventures led the round. … Read More
Nokia steps into top spot for W-CDMA handset sales
In just a year, Nokia Corp. has managed to steal the W-CDMA show. In the second quarter of last year, the handset vendor was fifth in terms of W-CDMA handset shipments, behind the likes of NEC Corp., LG Electronics Co. Ltd., Motorola Inc. and Panasonic. In the second quarter of this year, however, Nokia is the world’s No. 1 W-CDMA handset vendor. … Read More
Sprint Nextel to use media to differentiate
Bolstered by a relatively speedy and uneventful approval process and a new ticker symbol that began trading on the New York Stock Exchange last week, Sprint Nextel Corp. said it is in position to become a differentiated wireless provider focused on providing advanced services that customers will begin to expect from wireless companies. “We are not going to be considered a telecom carrier. We are going to be considered a company that knows what media services are about, that knows how to take care of customers, and deliver applications that customers ought to expect into the future,” said Sprint Nextel Chief Executive Officer Gary Forsee last week after opening the NYSE. … Read More
Nortel forms infrastructure JV with Korea’s LG
Nortel Networks Ltd. renewed its Asian presence Wednesday as it signed a joint-venture deal with LG Electronics Co. Ltd., forming LG Nortel Co. Ltd., a company that combines the telecom infrastructure business of LG with the distribution and service business of Nortel in South Korea. In the deal, Nortel will pay $145 million along with other nonmonetary considerations to own 50 percent plus one share of the joint venture. LG may be entitled to payments over two years based on achievements made by the joint venture in certain areas. … Read More
Verizon Wireless conducts EV-DO Rev. A trials with Lucent gear
Verizon Wireless successfully conducted over-the-air calls using CDMA2000 1x EV-DO Revision A technology from Lucent Technologies Inc., and Lucent said its Rev. A infrastructure will be commercially available in 2006. The trials are the first live tests of Rev. A technology-an enhancement to EV-DO technology-in the world, the companies said. Using Lucent’s commercial CDMA infrastructure, pre-commercial software and a test terminal provided by Qualcomm Inc., Verizon and Lucent demonstrated simultaneous video, voice and data services at speeds of up to 3.1 megabits per second on the forward link and 1.8 megabits per second on the reverse link. … Read More
Nextel Partners responds to valuation questions
Nextel Partners Inc. sent a terse response to Nextel Communications Inc. following a letter it sent to Nextel Partners regarding terms of Nextel Partners’ “put” option, which the affiliate can now trigger following Nextel’s acquisition by Sprint Corp. last week. “In the context of Nextel Communications’ obvious desire to reduce the price it will have to pay for Nextel Partners if the put is exercised, your letter just appears to be part of Nextel Communications’ ongoing, and in our view inappropriate, campaign to try to hurt the trading price of Nextel Partners’ stock,” Nextel Partners’ counsel wrote in a letter filed with the Securities and Exchange Commission. “I sincerely hope that Nextel Communications and Sprint Nextel will not use your letter as an excuse for another gratuitous public filing.” … Read More
Check out RCR Wireless News’ Archives for more stories from the past.
