CARROLLTON, Texas-CellStar Corp. announced it has completed its offer to exchange cash, 12 percent senior subordinated notes and 5 percent senior convertible notes for its 5 percent convertible subordinated notes.The company does not know the final results of the exchange offer, but it said...
MONTREAL—Telesystem International Wireless Inc. announced it will extend its purchase offer for all of its outstanding units, and the offer will now expire at 5 p.m. Montreal time on February 28, 2002. Before it expires, the company plans to re-launch the offer further amended...
ATLANTA—Wireless hardware and software provider Discrete Wireless announced it has completed $1.3 million equity capital round of private investments, bringing the total investments the company has raised to more than $2 million."Despite the slowing economy and the recession, 2001 was a great launch year...
VANCOUVER, British Columbia—Colligo Networks Inc., formerly SynchroPoint Wireless, announced $3.5 million in venture capital financing and a deal with PricewaterhouseCoopers.The company, which provides collaborating software for mobile workers, sold its Portable Collaboration products to the professional services organization.
CONSHOHOCKEN, Pa.—UbiquiTel Inc. reaffirmed previously issued guidance on its funding position, reporting it had approximately $130 million in cash and cash equivalents and $85 million in available bank credit facilities at the end of last year. The carrier said it expects to continue to...
NEW YORK—Motorola Inc. enjoyed a ratings upgrade from Morgan Stanley to "outperform" from "neutral.""We believe handset introductions, semi industry recovery and government sales strength could add positive cash flow and provide significant operating leverage," said Morgan Stanley, in a research note.
BOCA RATON, Fla.-SBA Communications Corp. is going to reduce capital expenditures and new tower development activities in 2002, and suspend any material new investment for additional towers, the company said.Several offices will be closed and an unspecified number of employees will be laid off...
OWINGS MILLS, Md.—In its fourth quarter results Aether Systems Inc. reported a huge increase in revenues compared with a year ago, but also a widening loss.Last year Aether earned $112.9 million, a leap from the $58.2 million the company reported in 2000. For the...
NEWTON, Mass.—MoreMagic Software announced it scored $9 million in its second round of funding, which was led by Vision Capital and Battery Ventures."These additional funds will be used to help drive MoreMagic Software's continued expansion in Europe and North America," said Jim Walz, the...
MONTREAL—Telesystem International Wireless Inc. said holders of about 97.3 percent of its 7-percent equity subordinated debentures (ESD) maturing Feb. 15 have tendered their debentures or given consent under TIW's purchase offer and consent request. TIW further said it will take up the units tendered...
INDIANAPOLIS—Brightpoint Inc. said it showed a net loss of 83 cents per share on revenues of $409 million for the fourth quarter of 2001, compared with a year-ago net income of 31 cents per share on revenues of $520 million. The company added that...
NEW YORK—NII Holdings, formerly known as Nextel International, reportedly missed its latest $41 million interest payments scheduled for last Friday on its 12.75-percent senior serial redeemable notes due 2010, according to Frank Marsala, wireless analyst at Robertson Stephens Inc.The missed payment followed a similar...
WebLink Wireless Inc. found its white knight.The paging and messaging carrier said late Thursday it scored a deal with Sun Capital Acquisition Corp., which buys out cash-strapped companies and then funds them back to health. WebLink said the move will help it emerge from...
STAMFORD, Conn.—Wireless Internet veteran i3 Mobile Inc. reported revenues for the fourth quarter, ended Dec. 31, of $900,000 and a net loss of $9.6 million. After the news, investors sent the company's stock down 20 percent to about $1.90 per share.In the fourth quarter...
CAMPBELL, Calif.—P-Com Inc. reported low fourth quarter and year-end results, citing reduced capital spending by customers.Net sales for the fourth quarter 2001 were $7.4 million, drastically lower than the $63 million the company recorded for the same period in 2000 and $10.3 million for...
EL SEGUNDO, Calif.—TelASIC Communications announced it has completed a $22.5 million initial round of financing.The semiconductor company plans to develop cost-effective RF and analog mixed signal solutions for advanced wireless applications. "I decided to lead this company because of the leading-edge product capability, experienced...
MONTREAL—Telesystem International Wireless Inc. released a reminder to holders of its outstanding seven-percent equity subordinated debentures (ESDs) due Feb. 15, 2002, and holders of its outstanding units that its amended purchase for all outstanding ESDs and units expires at noon, Montreal time, Monday Feb....
NEW YORK—Lucent Technologies Inc. said that Global Crossing Ltd. owes it $123 million, not $31 million as listed in Global Crossing's request for Chapter 11 bankruptcy protection, according to the Wall Street Journal.Lucent asked the court to compel Global Crossing to accept or reject...
MONTREAL—Mitec Telecom Inc. said it has closed a deal to buy part of Com Dev International Ltd.'s wireless division.Mitec will pay cash, which it will raise through a $13.4 million private placement of shares, for Com Dev's China, Canada and Great Britain facilities. Mitec...
TOKYO—NEC. Corp. reported a net loss of $2.26 billion, blaming softening demand for its telecommunications gear.The company also announced plans to cut 14,000 jobs, including 8,000 in Japan."These are not circumstances that would allow us to draw up business plans that presume growth," said...
ALAMEDA, Calif.—Wireless data infrastructure provider Geoworks Corp. announced a series of drastic moves and a depressing third quarter report, news that sent the company's stock rocketing down almost 40 percent in trading today to just under 50 cents per share.The company said it will...
HERNDON, Va.—Teligent Inc. hired Venture Asset Group L.L.C. in Palo Alto, Calif., to sell more than 20 Teligent offices in 17 states.Teligent is reorganizing under a new name and business plan and is expected to emerge from bankruptcy in the next couple months. It...
STOCKHOLM, Sweden—Ericsson AB posted a fourth-quarter net loss of $332.3 million compared with a net profit of $210 million in the same period last year."Our strength in the market and our positive cash flow demonstrate the commitment by our employees to win new business...
HELSINKI, Finland—Wireless gaming companies Codeonline Ltd. and Springtoys Inc. announced they will merge through a share swap, a move the companies said will better position them for the growing wireless gaming market."Considering the experience of the past six months of tight cooperation between the...
