WASHINGTON-EFJ Inc. signed a $10 million line of credit with the Bank of America N.A. it will use for working capital and to finance the performance of government contracts.The company can borrow up to $10 million under the revolving line of credit, which matures...
LONDON—Swedish vendor Ericsson has joined forces with Morocco's Finance.Com, a subsidiary of BMCE Bank, to launch the country's first mobile portal for financial transactions. The project, which is to be carried out via Ericsson Maroc, will see the launch of the portal early next...
SINGAPORESAMSys Technologies Inc., a company that provides radio frequency identification (RFID) reader hardware, and Tunity Pte. Ltd. of Singapore, an Asia-Pacific RFID channel development firm, said they plan to join in marketing efforts. According to the agreement between the companies, Tunity will provide solution...
Bank of America launched a wireless banking and brokerage offering last week in limited markets through a partnership with 724 Solutions Inc.Bank of America Private Bank customers in Dallas and Fort Worth, Texas, Baltimore and Washington, D.C., will be able to conduct banking transactions...
NEW YORK-Nextel Communications Inc. will be active in the upcoming government auctions for 1.9 MHz and 700 MHz spectrum, said Steven M. Shindler, executive vice president and chief financial officer."There is all sorts of speculation about spectrum, auction and M&A issues, and Steve has...
Palm Computing Inc. introduced the Palm VII wireless organizer nationwide last week, featuring a sale price of $500, $100 less than originally expected.The Palm VII-first available in May in New York, New Jersey and Connecticut-features many of the same organizer functions of its predecessors,...
When it became the first satellite-based global voice operator to launch commercial service last year, Iridium L.L.C. predicted its success would serve as the example other such carriers would need to follow.Not yet a year later, the company's dangerously low subscriber additions have resulted...
NEW YORK-Globalstar Telecommunications Inc. has arranged for a $500 million credit facility underwritten by Bank of America NT&SA, guaranteed by two subsidiaries of Loral Space & Communications.The company said the funds will be used to complete the buildout of the Globalstar low-earth-orbit satellite system,...
NEW YORK-The recent privatization of Telecomunicaciones de Guatemala S.A., doing business as Telgua, was the largest such transaction in Central America to date and offers encouragement for similar plans contemplated in nearby Nicaragua and Honduras."Obviously, Telgua would be interested in reviewing these as opportunities...
CHICAGO-American Mobile Satellite Corp. announced it completed its $100 million acquisition of Ardis last week, creating what it called the first fully-deployed, integrated terrestrial/satellite network for two-way wireless data services.Ardis, formerly owned by Motorola Inc., operates one of the largest terrestrial wireless data communications...
Brightpoint Inc. and CellStar Corp. said they discontinued negotiations to form a joint venture in India. The proposal for the venture was announced in mid-January. The companies were unable to negotiate a definitive agreement within the time frame set forth in the companies' letter...
CommNet Cellular Inc. said it has successfully concluded its call for redemption of its 6.75 percent convertible subordinated debentures. Of $74.7 million aggregate principal amount of the debentures outstanding, $41.9 million were redeemed and the balance of $32.9 million was converted into shares of...
