NEW YORK-As the Internet accelerates the globalization of telecommunications, mergers and acquisitions among traditional and nontraditional players have eclipsed initial public offerings as the preferred strategy for retaining competitive advantage."In the United States, the Internet economy generated $301 billion in 1998 and will generate...
NEW YORK-Happy days are here again for Motorola Inc., Schaumburg, Ill., which announced second-quarter earnings late July 13 of $273 million, or 44 cents per share.The gains are three cents per share ahead of analysts' consensus estimates of 41 cents and a quantum leap...
The gap between large and small independent tower companies became wider last week as a pair of transactions added nearly 2,500 towers to the portfolios of two of the larger players in the tower industry.American Tower Corp. will add about 600 owned and operated...
Dynamic Mobile Data SystemsDynamic Mobile Data Systems Inc. announced its Mobile Server product is commercially available. Mobile Server is a set of wireless drivers and controls for Microsoft NT servers and wireless devices that the company said extends beyond-firewall corporate data and applications to...
SARASOTA, Fla.-Pinnacle Towers Inc. said it purchased 85 wireless towers located in Florida, Georgia, North Carolina, South Carolina, Kentucky and Tennessee, in a series of five transactions. These towers add to the more than 900 towers Pinnacle already owns in the southeastern United States.
Iridium L.L.C. announced that Kyocera Corp. has completed its handset testing process and has been approved to begin volume distribution of its single-mode satellite phones and dual-mode adapters, as well as terrestrial cellular phones. Kyocera had reported several problems with the testing process, causing...
The union of AirTouch Communications Inc. and Vodafone plc could be a pinnacle event in the third-generation technology debate, industry experts say.The new company's economic decisions could weigh heavily on a sensitive and political debate over wideband Code Division Multiple Access technology. The two...
FORT LEE, N.J.-MobileMedia Corp. announced it has closed the sale of its transmission towers to Pinnacle Towers Inc. for $170 million in cash.MobileMedia diverted the fee for the 163 towers to its secured creditors, who have a lien on these types of assets totalling...
SARASOTA, Fla.-Pinnacle Holdings Inc. announced it no longer is pursuing its initial public offering due to unfavorable market conditions.Pinnacle provides wireless communications rental tower space in the southeastern United States. Since May 1995, Pinnacle has bought 598 towers and constructed another 48, the company...
Arch Communications Group Inc. lowered its cash interest expenses by $4.55 million a year following a series of interest rate swaps in connection with a $100 million 14-percent senior notes offering. The company lowered the interest rate on the senior notes from 14 percent...
FORT LEE, N.J.-MobileMedia Corp. announced it signed a definitive agreement to sell its 163 transmission towers to Pinnacle Towers Inc.The $170 million sale allows MobileMedia to retain ownership of the transmitters, antennas and other equipment on the towers through a leaseback arrangement over an...
Applied Cellular Technology Inc. received a letter of commitment for a $15 million unsecured line of credit from Boston's State Street Bank and Trust Co.'s High Technology Lending Group. Proceeds from the line of credit, expected to close by June 30, will be used...
Pinnacle Towers Inc. has gained access to cellular, paging and personal communications services markets in Baltimore and the eastern coast of Maryland following its acquisition of 12 towers from Shore & West Shore Communications."These acquisitions enhance the company's current inventory of 310 existing sites,"...
Ericsson Inc. announced it supplied equipment and services to Airadigm Communications Inc. for its Einstein personal communications services network in Appleton, Wis. The network uses Global System for Mobile communications technology. Ericsson supplied mobile switching centers, base station controllers, base stations and the MXE...
New York paging reseller Public Paging and operator ProNet Inc. are suing each other over a reseller agreement designed to give Public stock shares if it meets certain sales goals.Public filed its complaint in U.S. District Court, the Eastern District of New York. The...
