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Technology Stocks : Novatel Wireless, Inc. NVTL

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From: Bennitto	12/23/2005 1:18:09 PM
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Motorola buys Wireless Valley Friday December 23, 11:08 am ET Wireless device giant Motorola Inc. bought Wireless Valley Communications Inc., a privately held software developer in Austin, for an undisclosed amount. Schaumburg, Ill.-based Motorola (NYSE: MOT - News) is the No. 2 global manufacturer of wireless handsets. ADVERTISEMENT Wireless Valley was founded in 1995 by University of Texas electrical engineering professor Ted Rappaport. Rappaport was the company's chairman and chief technology officer, and Jim Welch was CEO. Welch will continue to head the Wireless Valley team and report to Motorola's enterprise business division. All 24 Wireless Valley employees will remain with the company, and no job cuts are planned, says Jeff Madsen, a Motorola spokesman. The deal closed Tuesday. Wireless Valley's software has garnered more than 130 patents in the United States and abroad. The software sets up and manages wireless networks. Wireless Valley moved its headquarters to Austin from Blacksburg, Va., in 2002. Published December 22, 2005 by the Austin Business Journal

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