WASHINGTON—Motient Corp. said Chairman Steven Singer and four other directors will not seek re-election at the wireless company’s annual meeting, a development that comes at a time when Highland Capital Management L.P.—the company’s largest single investor—is lodging a proxy fight to completely revamp the...
WASHINGTON-Motient Corp. may be the wireless industry's premier high-wire act. The Lincolnshire, Ill., company is attempting a great leap forward from a business model based on unprofitable land-based wireless data operations to one premised on high-risk-but potentially lucrative-mobile satellite communications that would work with...
NEW YORK—Arcadian Networks Inc. announced an ambitious plan to offer a broadband wireless data network in the 700 MHz range that will allow oil, gas and other utilities companies to monitor and manage their equipment. Arcadian’s service is available in 23 states comprising more...
LINCOLNSHIRE, Ill.-Motient Corp. and Mobile Satellite Ventures LP announced an agreement with SkyTerra Communications Inc. and TMI Communications & Co. to consolidate ownership of MSV and TerreStar Networks Inc. within Motient. Motient, a wireless data provider for small to medium enterprise businesses, and MSV...
LINCOLNSHIRE, Ill.-Wireless data carrier Motient Corp. announced it purchased a $200 million controlling interest in TerreStar Networks Inc., a company building a mobile satellite network. Motient now owns 61 percent of TerreStar's outstanding stock. Motient's move caps the company's long push to get back...
RESTON, Va.-Mobile Satellite Ventures said it has selected Evercore Partners to provide financial, fund-raising and strategic advisory services.The company said the selection follows the Federal Communications Commission's rulemaking on the provision of hybrid terrestrial-satellite networks using ancillary terrestrial component as well as the recent...
Motient Communications Inc. announced it will shut down the rural sections of its network, reducing its DataTAC network coverage from 200 million people to 137 million. The move is not totally unexpected-Motient has been bleeding customers and revenues for years, and has lately been...
LINCOLNSHIRE, Ill.-Motient Corp. announced it will up its stake in Mobile Satellite Ventures to 49 percent, just under what it needs to control the company. Motient's stock was up more than 10 percent on the news to about $32.35 per share.Motient said it closed...
LINCOLNSHIRE, Ill.-Motient Communications Inc. released its new iMotient Solutions product, which the company said represents a major new step by combining GPRS, 1xRTT and Motient's DataTAC networks for corporate customers. Motient will act as a single point of contact for corporations' devices, applications and...
Struggling wireless data carrier Motient Corp. appears to be returning to the industry from which it originally sprang-satellite communications. The company last week raised $126.4 million in a private stock placement to increase its stake in Mobile Satellite Ventures from 29.5 percent to 38.6...
Struggling wireless data carrier Motient Corp. appears to be returning to the industry from which it originally sprang-satellite communications.The company last week raised $126.4 million in a private stock placement to increase its stake in Mobile Satellite Ventures from 29.5 percent to 38.6 percent,...
LINCOLNSHIRE, Ill.-Motient Corp. closed a sale of 3.5 million shares of common stock to several institutional investors in a private placement that raised approximately $30 million in gross proceeds. The company said it plans to use proceeds from the sale to repay certain existing...
The Ricochet saga continues, with Falls Church, Va.-based YDI Wireless Inc. becoming Ricochet Networks Inc.'s fourth owner in two years.YDI bought the company for $3 million in cash, along with 42,105 shares of YDI common stock and a $300,000 unsecured note, payable over three...
The Ricochet saga continues, with Falls Church, Va.-based YDI Wireless Inc. becoming Ricochet Networks Inc.'s fourth owner in two years.YDI bought the company for $3 million in cash, along with 42,105 shares of YDI common stock and a $300,000 unsecured note, payable over three...
Struggling wireless data carrier Motient Corp. announced a closed sale of common stock to institutional investors, a move the company said would generate $23.2 million. The company said $6.7 million would go to repaying the outstanding principal and accrued interest on its existing $12.5...
LINCOLNSHIRE, Ill.-Struggling wireless data carrier Motient Corp. announced a closed sale of common stock to several institutional investors, a move the company said would generate a total of $23.2 million. The company said $6.7 million of the funds would go to repaying the outstanding...
When Monet Mobile Networks Inc. launched service in November 2002, many in the industry believed that the promise of advanced wireless data technology had finally become a reality-which is why the carrier's bankruptcy filing came as such a surprise."Personally, I'm very, very sorry to...
LINCOLNSHIRE, Ill.-Wireless data carrier Motient Corp. announced its board of directors replaced the company's current president and chief executive officer with a consulting firm that will look at ways to "significantly restructure" the company to reduce its cash requirements.In filings with the Securities and...
LINCOLNSHIRE, Ill.-Wireless data carrier Motient Corp. announced its board of directors replaced the company's current president and chief executive officer with a consulting firm that will look at ways to "significantly restructure" the company to reduce its cash requirements.In filings with the Securities and...
Nextel Communications Inc. bought $2.7 million of specialized mobile radio spectrum from wireless data carrier Motient Corp., according to Motient's Securities and Exchange Commission filings. Motient said it did not need the SMR spectrum, and it would use the extra funds for capital requirements...
Nextel Communications Inc. bought $2.7 million worth of Specialized Mobile Radio spectrum from wireless data carrier Motient Corp., according to Motient's Securities and Exchange Commission filings.Motient said it did not need the SMR spectrum, and it would use the extra funds for capital requirements...
Wireless data carrier Motient Corp. warned in Security and Exchange filings that it will soon lose its largest customer, UPS. Motient said it plans to counteract the loss by further lowering its network costs, beefing up its resale agreements with Verizon Wireless and T-Mobile...
EDISON, N.J.-Regional sales company Business Payment Systems announced it will resell a wireless credit card processing service from Comstar Interactive Corp.Comstar's CHARGE ANYwhere wireless credit card processing product includes a credit card swipe device and connections over Cingular Wireless' Mobitex network and the Motient...
The fate of wireless enterprise company GoAmerica Inc. is unclear, and industry watchers have little faith that the company's destiny is a bright one."I don't really know what they bring to the table," said Michael King, senior analyst with Gartner Inc. "I do wonder...
