Paul Allen Into Wireless Stocks
IBC Follows Microsoft Co-Founder Paul Allen Into Wireless Stocks
IRVINE, Calif.--(BUSINESS WIRE)--June 28, 1999--IBC is now focusing on undiscovered wireless/convergence stocks and will soon be featuring Internet Media (OTC BB:USRF - news) and Telecom Wireless (OTC BB: NOYR - news) at its Web site, ibchannel.com.
Why wireless/convergence? With the media convergence and communications revolution well underway, traditional market leaders are looking to broaden their service base by acquiring or investing in smaller, more agile companies.
usrf.com -- According to an article by Tyya Turner at CMP Media (http://www.teledotcom.com/directlink.cgi?TLC19990607S0029): ''IMC recently announced the launch of its Quick-Cell Wireless Internet System, which the company says can be deployed in a week or less. IMC manages the equipment, which uses the 900- or 2,400-MHz bands, and charges the ISP a monthly licensing fee. ISPs can offer Quick-Cell wireless access for 40 to 50 percent less than the typical cost of a T1, says James Kaufman, IMC's vice president of corporate development.''
With the acquisition of CyberHighway, not only did Internet Media acquire approximately 27,000 dial-up Internet access subscribers and a state-of-the-art Network Operations Center, the company also gained immediate access to customers in more than 230 markets in which a CyberHighway-owned or affiliate-ISP provides Internet services.
The company intends to establish a Wireless Internet access system in nearly 50 of these CyberHighway markets by the end of the third quarter of 1999. The company continues to pursue aggressively the acquisition of independent ISPs and licensing of independent ISPs who would exploit the company's US.RF Wireless Internet access products. IMC recently announced the launch of its Quick-Cell Wireless Internet System, which the company says can be deployed in a week or less.
noyr.com -- Telecom Wireless is a Next Generation Communication company led by Dr. Jim Roberts that capitalizes on convergence of video, voice and data in order to bring broadband connectivity, content and e-commerce over a wireless platform through the Internet.
Roberts has more than 25 years experience in the industry, having served in senior management positions at MCI (Nasdaq:WCOM - news) and McCaw Communications, now AT&T (NYSE:T - news) and Motorola (NYSE:MOT - news), which owns an 18% stake in Iridium (Nasdaq:IRID - news), which runs the first global mobile wireless communications system satellite-telephone network.
Iridium's low earth orbit satellite constellation system enables its customers to send and receive telephone calls virtually anywhere in the world.
Through strategic acquisitions and technology enhancements Roberts is positioning Telecom Wireless to convert its network into a digital platform and challenge ISPs and carriers such as MindSpring (Nasdaq:MSPG - news), Onemain (Nasdaq:ONEM - news), Concentric (Nasdaq:CNCX - news), AOL (NYSE:AOL - news), @Home (Nasdaq:ATHM - news), Qwest (Nasdaq:QWST - news), US West (NYSE:USW - news), Global Crossings (GLBX) and Frontier (NYSE:FRO - news), who are also racing to deliver the next generation in data delivery.
metricom.com -- Metricom (Nasdaq:MCOM - news) announced on Monday that MCI WorldCom (Nasdaq:WCOM - news) and Vulcan Ventures, have together invested $600 million in the company through the purchase of 60 million new convertible preferred shares of Metricom stock at $10 per share.
MCOM designs, develops and markets wireless network products & services that provide low-cost, easy-to-use data communications that can be used in personal computer and industrial applications.
Who is behind Vulcan Ventures? Paul Allen, now worth more than $30 billion, the third wealthiest man in the world behind Microsoft Chairman Bill Gates and Berkshire Hathaway (NYSE:BRK.A - news) Chairman Warren Buffett. Most of that comes from his still hefty $22 billion stake in Microsoft, which Allen co-founded and where he now serves as a board member.
What makes Allen particularly interesting, though, is what he's done and continues to do with the rest of his resources by way of his Vulcan Ventures investment vehicle. |
