NextWave coming to Japan:
netherlandscorporatenews.com
NextWave Wireless koopt Mori Trust belang in IPMobile
SAN DIEGO--(BUSINESS WIRE)--July 12, 2007--NextWave Wireless Inc.
(NASDAQ: WAVE), a global provider of mobile broadband products and
technologies, today announced that it has signed a definitive
agreement to acquire all shares of IPMobile, a Tokyo-based
telecommunications company, held by Mori Trust Co., Ltd., of Japan.
Upon closing of the transaction, NextWave will hold a 69.2% stake in
IPMobile. The agreement is subject to required government approvals.
Terms of the agreement were not disclosed.
"NextWave, through its IPWireless subsidiary, is a leading global
supplier of TD-CDMA wireless broadband products and networks. Our
investment is aimed at helping IPMobile accelerate its deployment of
this powerful 4G wireless broadband technology before the end of this
year in Japan, one of the most advanced telecommunications markets in
the world," said Allen Salmasi, chairman and chief executive officer
of NextWave Wireless. "The 2 GHz spectrum allocated to IPMobile by MIC
specifically calls for the deployment of TD-CDMA technology in Japan.
We intend to help IPMobile implement one of the first 4G wireless
broadband network deployments that can provide speeds of up to 30 Mbps
and support a wide variety of user applications including
bandwidth-intensive video streaming applications."
Founded in 2002, IPMobile received a nationwide concession of
spectrum in the 2 GHz frequency band from the Ministry of Internal
Affairs and Communications in November 2005. IPMobile has been working
with IPWireless towards a commercial launch of a TD-CDMA wireless
broadband network by November of this year.
"After the launch of IPMobile's commercial network later this
year, we look forward to following up with world-class companies in
Japan to invest in the future of IPMobile's business in order to bring
new and exciting mass-consumer devices and applications to Japan's
marketplace and to extend Japan's global leadership in wireless
broadband services and technologies," added Salmasi. |
