Editor's Note: Welcome to our weekly Reader Forum section. In an attempt to broaden our interaction with our readers we have created this forum for those with something meaningful to say to the wireless industry. We want to keep this as open as possible,...
News Corp. (NWSA) has sold its Fox Mobile Group unit to Jesta Group for an undisclosed sum. The sale marks a yearlong exit from many of News Corp's digital media businesses and MySpace could be next.The business will be renamed Jesta Mobile Holdings with...
New Corp. is reportedly laying off staff almost three months after it first confirmed plans to sell its mobile business all together. Fox Mobile is cutting around 75 employees, of 15% of its staff in Germany, and making cuts in other markets as well,...
The co-managers of BlackBerry Partners Fund announced they have merged their investment teams to focus exclusively on mobile venture capital investment opportunities under the BlackBerry Partners Fund brand. The fund was founded in 2008 with capital commitments from Research In Motion, Thomson Reuters and...
Hydrogenics Corp., which develops products based on hydrogen generation and fuel cell technologies, forged a strategic alliance with CommScope Inc. (CTV) that calls for the companies to jointly develop next-generation power modules for telecom backup power applications. The deal includes an equity investment...
The mobile unit at News Corp. (NWSA) has apparently become such a drag on the company that it's now willing to part ways with the business after four years in the space.During a call with investors, News Corp. COO Chase Carey said the company...
Accedian Networks, which provides service assurance solutions said it secured $19.5 million in a new round of funding. The round was led by Summit Partners and included participation from Rho Ventures and Skypoint Capital. The funds will be used to accelerate the company's commercial...
Editor's Note: Following are the top-paid CEOs of U.S.-based companies in the wireless industry. Last week, RCR Wireless News ran the list of the top 20 highest paid wireless executives. This week we are featuring No. 21-30. Some caveats apply: private companies are not...
Editor's Note:Welcome to our weekly Reader Forum section. In an attempt to broaden our interaction with our readers we have created this forum for those with something meaningful to say to the wireless industry. We want to keep this as open as possible, but...
Tyco Electronics (TEL) reached a deal to purchase ADC Telecommunications (ADCT) for $1.24 billion. Tyco will pay $12.75 per share for ADC. The deal boosts Tyco's presence in the network-equipped products market.Synchronoss Technologies (SNCR), which provides on-demand transaction management software platforms, announced it entered...
Sprint Nextel financing update. Spring Nextel Corp. said it entered a new $2.1 billion unsecured revolving credit facility, which expires in October 2013 and replaces an existing $4.5 billion revolving credit facility that would have expired this year. The new credit facility will provide supplemental...
Alvarion Ltd. said its revenues dropped to $51.9 million during the first quarter, from $60.2 million during the same period last year. Net loss for the quarter was $4.9 million, or 8 cents per share, compared with a net loss of $852,000, or 1...
Alvarion Ltd. said its revenues dropped to $51.9 million during the first quarter, from $60.2 million during the same period last year. Net loss for the quarter was $4.9 million, or 8 cents per share, compared with a net loss of $852,000, or 1...
Ericsson reported it has entered into an agreement to purchase Nortel's majority shareholding in LG-Nortel, renaming the venture LG-Ericsson. Terms of the deal were not released. Ericsson had previously acquired Nortel's GSM assets in North America. Ericsson said the joint venture will include contracts...
Adtran Inc. reported first-quarter results, including a 15% increase in sales to $127 million from $110 million during the first quarter of 2009. Net income increased 20% to $18.2 million, or 29 cents per share, compared with net income of $15.2 million, or 24...
NextWave Wireless Inc. said the Nasdaq Listing Qualifications Panel granted the company's request for continued listing on the Nasdaq Global Market. The approval requires NextWave to file a proxy statement by May 1 seeking shareholder approval for implementation of a reverse stock split....
A new consortium funded by the European Commission has been formed to work toward increasing mobile broadband infrastructure capacity density. The Beyond Next-Generation Mobile Broadband consortium is organized under the Seventh Framework Programme for Research and Technological Development. The goal of the group is...
VeriSign Inc. said it partnered with CAQH, a nonprofit alliance of health plans and trade associations, to conduct a pilot program to demonstrate secure authentication for health IT interoperability. The six-month pilot will build on a set of operating rules created by the CAQH...
American Tower Corp. said it completed a previously announced exchange offer for its 4.625% senior notes due in 2015. The notes originally were issued in October 2009. The company received $594.2 million at that time and used the proceeds to redeem outstanding 7.125% senior...
Editor's Note: Welcome to our weekly Reality Check column. We've gathered a group of visionaries and veterans in the mobile industry to give their insights into the marketplace.As the spin doctors try to put a happy face on the retail shopping season, I thought...
The battle over who controls the customer, whether it's a battle for the smart pipe or the smart device, is quickly moving into a battle over who controls the customer's content. Today the field is wide open, leaving plenty of room for new winners...
VeriSign Inc.’s mobile messaging unit said it won a contract to offer text-messaging-based mobile banking services to Wilmington Trust. Customers can access banking information, such as ATM and branch locations, personal account information, and recent transaction history by text message. Wilmington Trust offers regional...
The converging telecom and IT space is set to become a $5 trillion global business, fueled by relentless demand from individuals and businesses to be able to access information across any device at any time. The wireless/telecom/media/IT sector is growing two to five...
Shares of Research In Motion Ltd. plunged after the manufacturer said its quarterly earnings and gross margin would come in at the low end of expectations, despite better-than-expected subscriber growth.The Canadian-based BlackBerry maker said it will exceed its previous forecast of 2.9 million net...
