REDWOOD CITY, Calif.-PacketHop Inc. said it raised $10 million in its third round of financing.The company said it will use the funds to bring its PacketHop Communication System to market. The product is a mobile mesh solution that works with off-the-shelf Wi-Fi-enabled mobile devices.The...
SAN DIEGO-Intercasting Corp., a location-aware media networking operator, said it raised $5.5 million in its first round of financing.The company said it plans to use the funds for business growth, product development and marketing initiatives, as well as to move toward the introduction of...
LOS ANGELES-LCC International Inc., a wireless and technical data consulting firm, said it will restate financial results for 2004 and the first quarter of 2005 and expects its second-quarter 2005 results to fall short of previous estimates. The company said it miscalculated revenue earned...
Independent regional operators posted mixed second-quarter results that in most cases included sagging customer growth, but increased revenue per subscriber bolstered by growing wireless data usage. Recently strengthened Alltel Corp., which closed its acquisition of Western Wireless Corp., was a prime example. The industry's...
As tower companies' second-quarter earnings begin to roll in, three firms posted net losses last week, but industry analysts said the companies are on the right track and most rate the stocks as strong buys. In addition, a merger proposal between two tower firms...
Standard & Poor's Ratings Services Inc. offered a positive outlook on Sprint Corp.'s acquisition of Nextel Communications Inc. "Upon completion of the merger between the two companies, likely to close within the next few weeks, we expect to raise our corporate credit and senior...
TEL AVIV, Israel-Poalim Ventures announced the completion of a $2 million investment in Orsus, a developer of situation and response management solutions for wireless and other networks. Other Orsus shareholders include the Infinity and Cedar funds and Clal, Comverse and Koor.Orsus is currently developing...
FALLS CHURCH, Va.-General Dynamics Corp., a defense contractor, has entered a definitive agreement to acquire Itronix Corp., which provides wireless rugged mobile computing solutions. Terms of the deal were not disclosed.Itronix's products include handheld devices, laptop computers and tablet PCs for field applications. The...
MORRISVILLE, N.C.-Tekelec has exercised its option to purchase a minority interest in Santera Systems for $75.6 million in cash, said the company. The purchase effectively terminates Santera's minority stockholders' indemnification obligations to Tekelec, it said.Tekelec said it amended terms of its stockholders' agreement among...
Following are changes in wireless company ratings reported by financial services and investment banking firms this week.Standard & Poor's Ratings Services said Sprint Corp. and Nextel Communications Inc. remain on CreditWatch with positive implications based on operating and financial improvement. Raymond James downgraded Crown...
BOSTON-American Tower Corp. and SpectraSite Inc. announced Wednesday that their respective stockholders have approved the transaction for the companies to merge. The companies expect the merger to close on or about Aug. 8.In the deal, the two companies agreed to a stock-for-stock exchange, whereby...
CARY, N.C.-TowerCo Inc., a wireless tower owner, announced it has secured a $35 million senior credit facility from CapitalSource Finance L.L.C. and plans to use the three-year, cash flow-based loan to fund an aggressive growth spurt. The company said it wants to expand from...
UTStarcom Inc. posted a loss in the second quarter, and its third-quarter outlook offered no relief, news that helped send its stock down more than 6 percent to around $8 per share."While we had hoped that the downward revisions to revenue growth and expectations...
SAN FRANCISCO-WideRay Corp. raised $10 million in Series C funding led by new investor Enterprise Partners Venture Capital, the company announced Wednesday.Existing investor Sequoia Capital joined the round, and other private investors also participated. WideRay, which provides technology that enables the delivery and transaction...
In a move that will expand its U.S. presence, MIND CTI Ltd., a real-time mediation, billing and customer care solutions provider, reached an agreement to acquire U.S.-based Sentori Inc., which is a customer-care software solutions provider for wireless carriers and mobile virtual network operators....
SAN DIEGO-Mission Ventures, which is an early-stage venture-capital firm, said Mission Ventures III, a $210 million fund, closed late last month.Mission Ventures III will invest mainly in early-stage information technology and technology-driven services companies, including wireless firms, in Southern California.
Crown Castle International Corp. announced its second-quarter earnings, reporting a net loss of $227.5 million, which includes $198.5 million in losses caused by the early retirement of debt. Last year, the company reported a net loss of $50.8 million during the second quarter. Net...
BETHESDA, Md.-Iridium Satellite L.L.C. said in its first-half report that its subscriber base has increased 20 percent to 127,000 customers during the past 12 months and 11 percent from 114,000 subscribers the company reported at the end of last year. Revenue for the first...
BOCA RATON, Fla.-SBA Communications Corp. announced its second-quarter results Monday, reporting revenues of $63.2 million, a 12.2-percent increase from the second quarter of 2004 when the company reported revenues of $56.3 million. However, the firm reported a net loss of $26.3 million, or 38...
SCHAUMBURG, Ill.-Motorola Inc. said its equity investment arm made an undisclosed financial investment in wireless local area network developer Trapeze Networks Inc.Trapeze Networks designs a WLAN mobility solution that allows users to roam securely anywhere in a network and across multiple facilities."Trapeze's product offering...
The second quarter is shaping up as a one-horse affair as Verizon Wireless appears set to take substantial market share away from its competitors and move ever closer to its larger rival Cingular Wireless L.L.C. Verizon Wireless, which ruled supreme as the industry's big...
As the U.S. economy slowly emerges from its prolonged winter, many companies in the wireless sector are wondering what to do with the extra cash they've suddenly found. For some of the industry's largest players, the answer is to buy back some of their...
Kristen BeckmanFollowing are ratings changes and other financial information for wireless companies announced this week by investment banking and financial firms.CIBC raised its estimates on Powerwave Technologies Inc. following the company's strong second-quarter report. CIBC said it expects revenues and earnings per share for...
KING OF PRUSSIA, Pa.-InterDigital Communications Corp. said it expects second-quarter revenue to be about $38 million and operating expenses to be about 10-percent lower than the first quarter. The updated guidance for revenue corresponds to the higher end of the range given in May;...
