Standard and Poor’s has downgraded U.K. telecom equipment maker Marconi to “BBB-” from “BBB+”, just on the edge of junk bond status. The credit ratings agency said it could downgrade the company further if sales and profitability did not improve.
Rental car company Hertz Corp. purchased wireless software and service provider 2Roam Inc.’s software platform to extend its Web-based services to wireless devices. Hertz customers will now be able to make, review and update their rental reservations using a variety of mobile devices.
Motorola Inc. said it sold its Integrated Information Systems Group to defense contractor General Dynamics for $825 million in a deal expected to close within 60 days. The unit, which employs 3,000 people, hopes to make $830 million in revenues for General Dynamics in 2002.
Brightstar Corp., a wireless outsourcing company known for its Latin American operations, has become a U.S. distributor for Motorola Inc., marking the first contact for Brightstar’s new U.S. operations. “This agreement with Motorola early in our U.S. expansion is a strong testament to the need for Brightstar’s agility and customization in this market,” said Denise Gibson, chief operating officer of Brightstar. “We are confident that we will help Motorola in its efforts to further penetrate the marketplace.” Brightstar added that it is currently in contract negotiations with other U.S. manufacturers.
Qualcomm Inc. said it has expanded the terms of its existing CDMA license agreement with GTRAN Wireless Inc. to include CDMA2000 1x evolution development. Under the deal, GTRAN can develop, manufacture and sell modem card products for wireless applications using cdmaOne CDMA2000 technologies.
SchlumbergerSema has agreed to use its Simera Java technology to deliver Diversinet Corp.’s GSM and Public-Key Infrastructure solution to mobile operators for short message service. “Both markets have agreed to co-market the solution, thereby increasing market penetration for both parties,” said Diversinet.
