KANSAS CITY, Mo.—Sprint Capital Corp., a wholly owned finance subsidiary of Sprint Corp., began a $2 billion unregistered offering of two tranches of senior notes.The company said net proceeds from the offerings would be used to repay a portion of its outstanding commercial paper...
CARY, N.C.—SpectraSite Communications Inc. announced agreements with The Rouse Company and Westfield America Inc., both real estate development and management companies, whereby SpectraSite has the right to install in-building wireless communication systems in their portfolio of shopping centers.Under terms of its agreement with Rouse,...
IRVINE, Calif.—Mericom Corp. said it is closing three regional offices and Bill D'Agostino, the company's president and chief executive officer, has elected to leave Mericom to pursue other interests.Mericom's founder, Robert Lopez, will replace D'Agostino.The company's regional offices in Atlanta, Dallas and St. Louis...
NEW YORK—Moody's Investor Services lowered its long-term rating of Qwest Communications International Inc. and fully guaranteed Qwest Capital Funding from Baa2 to Baa3; its long-term rating for Qwest Corp. from A3 to Baa2; and the short-term ratings for both Qwest Capital and Qwest Corp....
ATLANTA—Air2Web said it closed its acquisition of 2Roam.Under terms of the agreement, Air2Web acquired 2Roam's Wireless Solution, its customer base and retained its co-founder and Board Chairman Bryan Wargo. Wargo now is Air2Web's vice president of strategic accounts.2Roam's shareholders Lightspeed Venture Partners, @Ventures and...
WESTMONT, Ill.—Aftermarket Technology Corp. announced it will sell 2.4 million shares of its common stock to an underwriters group led by Morgan Stanley, Merrill Lynch & Co. and Wachovia Securities.The shares will be sold to the public at $16.50 per share. The underwriters also...
SUNNYVALE, Calif.—Western Multiplex Corp. rejected the unsolicited offer made by DMC Stratex Networks Inc. last week to acquire Western Multiplex.The board of directors reaffirmed its commitment to the pending merger with Proxim Inc. after meeting with financial and legal advisers.Jonathan N. Zakin, chairman and...
MONTREAL—Telesystem International Wireless Inc. said it has completed its units issuer bid, a nine-month recapitalization process during which the company has reduced its corporate debt by about $700 million."Not only has TIW achieved one of the most important de-leveraging exercises in the telecommunications sector,...
HOUSTON—Crown Castle International Corp. said its revenues for the fourth quarter ended Dec. 31 increased to $238.2 million, from $202 million for fourth-quarter 2000. The company's revenues for the year also increased from $649.2 million in 2000, to $898.9 million for 2001.Crown Castle's net...
NEW YORK—NTT DoCoMo Inc., Japan's largest mobile communications operator, began trading its American depositary shares on the New York Stock Exchange and its common shares on the London Stock Exchange March 1."Combined with our listing earlier today on the London Stock Exchange and our...
BOCA RATON, Fla.—SBA Communications Corp. reported increased revenues for the fourth quarter and year ended Dec. 31, but the company's net loss increased as well.SBA said revenues for the fourth quarter totaled $69.15 million, compared with $53.6 million for fourth-quarter 2000. Year-end revenues totaled...
NEW YORK—Barely three weeks to voting day, the tension between the Hewlett-Packard Co. and the founding family has heightened as the executives of the company continue to pitch the merits of a merger with computer maker Compaq.While Walter Hewlett, son of one of the...
CARY, N.C.—SpectraSite Holdings Inc. reported results for the fourth quarter and year ended Dec. 31. The company's revenues for the quarter totaled $131.3 million, compared with $103.4 million for fourth-quarter 2000.Revenues for the year totaled $473 million, compared with $346.9 million for 2000.SpectraSite reported...
MONROE, La.—CentruyTel Inc.'s board of directors voted to increase the quarterly cash dividend from 5 cents to 5.25 cents per share payable on March 22.
BELLEVUE, Wash.—Western Wireless Corp. posted $286.4 million in revenue for the fourth quarter of 2001 and $1 billion in revenue for the entire year compared with $237.1 million and $834.9 million respectively for the previous year.While revenues increased, net income dropped from a profit...
SOUTHBOROUGH, Mass.—Integrated wireless and Web-based software application provider ViryaNet said it has acquired all outstanding shares of iMedeon Inc., of Alpharetta, Ga., for about 4.3 million shares of ViryaNet, plus an additional 900,000 shares, subject to ViryaNet shareholder approval.ViryaNet said benefits of the transaction,...
CARROLLTON, Texas-In its earnings report released after the close of trading February 25, CellStar Corp., a distributor of wireless products, reported improved results for the fiscal year and fourth quarter, both of which ended November 30.Consolidated net income for fiscal year 2001 was $600,000,...
SAN JOSE, Calif.—Fixed-wireless equipment manufacturer Hybrid Networks Inc. said it may be forced to seek bankruptcy protection if it does not find a buyer soon.The company is facing liquidity issues that include liabilities that exceed its cash and cash equivalents by approximately $4.2 million...
BURLINGTON, Mass.—Lightbridge Inc., which provides mobile business solutions, announced it will acquire Altawave Inc., which offers wireless data management services.Lightbridge said the move strengthens its strategic relationships with carriers and expands its mobile business products and services.The deal is through an asset transaction. Lightbridge...
MORRISTOWN, N.J.—Celerica Inc. announced details of its second round of funding, which brought the total funding raised for the wireless infrastructure start-up company to more than $20 million.This round, which totaled $18 million, was led by Pitango Venture Capital of Tel Aviv, Israel, with...
RESTON, Va.—Nextel Communications Inc. stock fell more than 25 percent on Tuesday to an all-time low of $3.35 per share after the carrier reported its international division would take a restructuring charge of between $1 billion and $2 billion. Nextel's stock rebounded by the...
NEW YORK—PayPal Inc., a Palo Alto, Calif. start-up company providing mobile and electronic commerce payment services, saw shares of its initial public offering, priced at $13 late Thursday, rise to $18.90 by late morning of its first day of Nasdaq trading February 15.The deal...
DENVER—Qwest Communications International Inc., which was unable to roll over part of its short-term debt on Thursday, has drawn down its $4 billion bank credit facility to address short-term liquidity needs in the commercial paper market. The telecom company said it was using the...
CHICAGO—GTCR Golder Rauner L.L.C. announced it has completed its acquisition of TSI Telecommunications Services Inc. from Verizon Communications Inc. in a $800 million transaction.Edward Evans, formerly president and chief operating officer of Dobson Communications, pursued the acquisition in partnership with GTCR and will assume...
