The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
Shares of UTStarcom Inc. tumbled more than 25 percent after the company announced a series of warnings, including a drop in revenues, a Securities and Exchange Commission investigation and a potential writedown of its assets. The company's stock dropped from $7.65 per share to...
TORONTO-Broadband wireless equipment provider Redline Communications said it secured $15 million in venture-capital financing.The funding was led by GF Private Equity Group L.L.C., and existing investors Matrix Partners and US Venture Partners participated.The company said it will use the money to develop its WiMAX-based...
MORRISVILLE, N.C.-Tekelec announced the completion of its acquisition of a minority interest in Santera Systems, for which Tekelec paid $75.6 million in cash in early August.Tekelec said its fourth-quarter income statement will reflect 100-percent ownership of Santera."The purchase represents a significant milestone in the...
TAMPA, Fla.-FTS Group Inc. provided details on its proposed share spinoff of FTS Wireless Inc.The company said it is seeking to acquire a profitable privately held company in conjunction with the share spinoff, and it is involved in negotiations with several such companies. FTS...
SCHAUMBURG, Ill.-Motorola Inc. said it would cut 1,900 jobs as part of its ongoing efforts to restructure and improve its supply chain. The company said it would take a pre-tax charge in the third quarter of $70 million for severance charges and $20 million...
SAN FRANCISCO-Mforma Group Inc. said it raised $30 million in a third round of institutional financing.The round was led by venture-capital firm Institutional Venture Partners. Existing investors Bessemer Venture Partners, Draper Fisher Jurvetson and General Catalyst Partners also participated.The funds will be used to...
Initial shipments of Motorola Inc.'s long-anticipated iTunes-capable phone appear somewhat sluggish, according to a recent analyst report from Piper Jaffray. The firm said its recent store checks show that some locations are recording strong sales of the device, but the majority see only weak...
Investors dumped shares of BlackBerry maker Research In Motion Ltd. following the company's surprise subscriber shortfall. Although RIM scored earnings ahead of expectations, lower-than-anticipated subscriber numbers sent the company's stock tumbling more than 11 percent to $68.72 per share. "We are very pleased with...
The high-flying mobile content industry is experiencing some turbulence as two leading content providers issued sobering announcements. Disappointing earnings from its content business led VeriSign Inc. to lower its third-quarter revenue forecast late Thursday. The Mountain View, Calif.-based company expects total revenue for the...
CALGARY, Alberta-CSI Wireless Inc. saw its stock take a 20-percent plunge on the Toronto Stock Exchange Thursday after the designer and manufacturer of wireless global positioning systems products announced that third-quarter results will include a loss of more than $4.7 million.In 2004, CSI's third-quarter...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
KINGSTOWN, Jamaica-Digicel Group, a mobile communications provider in the Caribbean, said it has completed the acquisition of seven Cingular Wireless operations in the Caribbean and Bermuda after receiving regulatory approvals. Digicel said it also has received regulatory approval to acquire Cingular's operations on the...
Investors dumped shares of BlackBerry maker Research In Motion Ltd. following the company's surprise subscriber shortfall. Although RIM scored earnings ahead of expectations, lower-than-anticipated subscriber numbers sent the company's stock tumbling more than 11 percent to $68.72 per share. "We are very pleased with...
SANTA CLARA, Calif.-Vivotech, which provides contactless payment solutions, said it raised $18.25 million in its series B funding round. The funding was led by Draper Fisher Jurveston and included participation from Nokia Growth Partners, DFJ Gotham and Alloy Ventures.Vivotech's platform allows consumers to make...
MUNICH, Germany-In a deal that strengthens its wireless broadband portfolio, Siemens AG signed a takeover agreement with operational support systems startup Garderos Software Innovations GmbH.In the deal, Garderos will continue to be run under its existing name as a fully owned Siemens subsidiary and...
SAN JOSE, Calif.-Three wireless industry vendors announced new funding this week. Roamware Inc., which provides mobile roaming solutions, said it raised $14 million in a series C round of financing.Proceeds of the funding round will be used to enhance the company's product line and...
SAN FRANCISCO-Intel Corp. announced a deal with Research In Motion Ltd. in which RIM will use Intel technology in future BlackBerry devices that will run on EDGE networks.RIM is adopting the Intel XScale architecture and will use the Intel PXA9xx cellular processor, code named...
REDWOOD CITY, Calif.-Wireless Internet company Openwave Systems Inc. announced it will purchase Musiwave, a music entertainment services, applications and content supplier, for more than $120 million, with an additional $18 million in contingency earnouts.Openwave said it expects Musiwave to contribute about $50 million to...
According to most industry observers, all systems are go in the worldwide wireless industry. Predictions show significant sales opportunities in emerging markets like India, where handset costs are plummeting below $50, and some carriers have figured out how to make money from $5-per-month service...
SUNNYVALE, Calif.-Palm Inc. posted sluggish sales and a lower-than-expected outlook, which prompted investors to drop the company's stock in droves.Palm's share price tumbled more than 18 percent in trading after the company's announcement to $28.65. Palm, however, sought to cast a positive spin on...
The following information includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
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...
Sprint Nextel Corp. released preliminary third-quarter customer growth results below many analysts' estimates, but noted that its integration efforts are ahead of schedule and raised the net present value of expected merger synergies.Sprint Nextel said it expects to post 1.2 million total net customer...
