Banking giant Wells Fargo & Co. announced it launched its Wells Wireless mobile banking service, which is powered by 724 Solutions Inc.’s financial services platform. Wells Fargo customers will have access to account information and will be able to make transfers between accounts.
Alamosa (Delaware) Inc., a subsidiary of Alamosa PCS Holdings Inc., received gross proceeds of $250 million on its recent note offering of 12.5 percent senior notes due 2011. The company said the proceeds will be used to reduce existing debt and for working capital and general corporate purposes.
Qualcomm Inc. expanded its CDMA subscriber unit license agreement with Sierra Wireless to include development, manufacture and sale of subscriber equipment for all third-generation CDMA products. The deal, which includes CDMA2000, CDMA 1xEV, TD-SCDMA and W-CDMA, requires Sierra to pay a license fee and ongoing royalties at the same rates for both 3G and 2G equipment.
Sprint PCS will provide access to 10Best Inc.’s business and applications services over Sprint PCS’ Wireless Web service, providing targeted, localized recommendations of the 10 best places to eat, sleep and play in 211 cities around the world. Sprint PCS customers can connect to 10Best’s information via the “Travel” category folder on the Sprint PCS Wireless Web.
Qwest Communications International Inc. said it is beginning a cash tender for all of the $162.5 million current aggregate principal amount outstanding of 10.88-percent series B senior notes due 2007, the $555.9 million current aggregate principal amount at maturity of 9.47 percent series B senior discount notes due 2007 and $382.9 million current aggregate principal amount at maturity of 8.29 percent series B senior discount notes due 2008 issued by Qwest. The tender offers are being conducted to retire the bonds because of their high coupon rates and to reduce interest cost to Qwest.
