Syniverse Technologies signed an agreement to acquire the wireless clearing and financial settlement business of Billing Services Group for $290 million in cash."The proposed acquisition of BSG's wireless business will allow us to better serve the demands of our clients; further develop our global...
LCC International Inc. has delayed the filing of its annual financial statements for 2006 with the U.S. Securities and Exchange Commission. The company said its management needs more time to assess the accuracy of its financial reporting, and for its auditors to complete a...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier Credit Suisse First Boston lowered its EBITDA and EPS estimates on Sprint Nextel Corp. for the first quarter, but full-year 2007 EPS estimates increase...
Openwave Systems Inc. has put up the 'for sale' sign. The question is, who wants it?The Redwood City, Calif.-based developer last week announced the resignation of CEO David Peterschmidt and said it has retained Merrill Lynch as a financial adviser to explore strategic alternatives...
Palm Inc. posted a solid quarter, showing gains in its Treo smartphone sales, and its stock rose slightly on the news to $18.01 per share. However, the company declined to comment on rumors of a potential merger or sale that, according to some media...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Handset and infrastructure vendors CIBC World Markets lowered its estimates on Motorola Inc. after the company significantly lowered guidance for the first quarter. For...
Openwave Systems Inc. is up for sale.The Redwood City, Calif.-based developer announced the resignation of CEO David Peterschmidt and said it retained Merrill Lynch as a financial advisor to explore strategic alternatives including a sale. Peterschmidt was replaced by Robert Vrij, who formerly served...
Glu Mobile Inc. raised $84 million with an initial public offering priced near the top of its range.The San Mateo, Calif.-based wireless game maker offered 7.3 million common shares at $11.50 compared with a $10 to $12 per-share forecast range. The stock gained 4...
Motorola Inc. said its ailing mobile-phone business is faring worse than the company had expected, and as a result the world's No. 2 handset vendor will post a loss for the first quarter. In order to reverse the situation, Motorola's Ed Zander announced an...
After delaying the filing of its annual financial reports for 2006, Nortel Networks Ltd. announced that despite a 10-percent increase in revenues from the same period a year ago, it suffered a net loss of $80 million in its fourth-quarter results. Executives were pleased...
The hits just keep coming for Nortel Networks Ltd., this time from the Securities and Exchange Commission. The SEC last week filed civil fraud charges against four former executives at the company for repeatedly engaging in accounting fraud to bridge gaps between the network-equipment...
Challenges continue for InfoSpace Inc. with news that a major shareholder is looking to nominate three independent candidates for election to the company's board of directors at an upcoming stockholders meeting.Sandell Asset Management Corp., which holds 8.8 percent of InfoSpace shares, earlier this week...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Handset and infrastructure vendors CIBC World Markets further lowered its estimates on Motorola Inc. on stronger-than-expected weakness throughout its handset operation. Its 2007 estimates drop...
Mobile media company Mobifusion Inc. said it picked up $3.1 million in its first round of venture funding.Mobifusion targets carriers and publishers with a content-delivery platform designed to increase customer acquisition and loyalty. Backers in the initial round included Emergic Ventures, Ingram Digital Group,...
Chinese mobile content behemoth Tom Online blamed policy changes by China Mobile as it posted a fourth-quarter loss of a half million dollars.The Nasdaq-listed firm reported a net loss of $510,000 during the final three months of 2006, down drastically from a $12.7 million...
Investors fled San Diego-based Wireless Facilities Inc. in droves after the company announced an internal review of the company's stock-options granting practices as well as several impairment charges. The company's stock was down a whopping 20 percent, to $1.68 per share, following the news.The...
Clearwire Corp.'s stock continued its substantial slide Monday, its third day of public trading. The widely anticipated initial public offering of Clearwire stock has had a rocky start. The company's stock started at $27.25 per share before hitting a high of $27.95 shortly after...
Buongiorno S.p.A. reported a net profit of $16.2 million for 2006, more than doubling its bottom line from the previous year.The content aggregator said it generated $253 million in revenue last year, up 41 percent from 2005, selling 1.4 billion pieces of content to...
Rural Cellular Corp. posted mixed results as its losses widened, but it made major improvements in churn and customer gains.The Minnesota-based regional carrier reported a net loss of $53.6 million for the fourth quarter of 2006, more than double the loss of $21.8 million...
Venture-capital funding is in the air. No less than four wireless companies announced new infusions of cash for their burgeoning endeavors in the industry:. Xtract announced it received more than $2.6 million in its first round of funding from Eqvitec Technology Fund III. The Finnish...
Shares of SmartVideo Technologies Inc. tanked after the company said it was seeking an infusion of cash.SmartVideo, which operates under the brand uVuMobile, is hoping to find "additional capital to fund the roll-out of new products and applications" for its Mobilecasting offering, which was...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Handset and infrastructure vendors RBC Capital Markets lowered its 2007 estimates on Motorola Inc. to $1.18 from $1.20 and lowered its price target on the...
Mobile software developer Dexterra Inc. picked up $36 million in a fifth round of venture funding.New investor New Enterprise Associates led the round, joining existing investors Canaan Partners, Intel Capital, Mesirow Financial, Motorola Inc. and Sigma Partners. Dexterra, which makes software that allows mobile...
Clearwire Corp. has finally gone public, with an opening trading price of $27.25 per share that fell to less than $25 in busy midday trading.The company, which trades under the symbol "CLWR," had said it planned to offer 20 million shares at prices between...
