FCC Approves Transfer of Control for ARDIS Data Network Licenses to American Mobile
RESTON, Va., March 5 /PRNewswire/ -- The Federal Communications Commission
approved the transfer of control of ARDIS Company's ("ARDIS") wireless data
network from Motorola to American Mobile Satellite Corporation
(Nasdaq: SKYC). The $100 million cash and stock deal, announced December 31,
1997, is contingent upon financing arrangements and regulatory approvals, and
is anticipated to close by the end of March. "We are pleased that the
necessary regulatory approvals have taken place in an efficient and timely
manner," said American Mobile President and Chief Executive Officer Gary M.
Parsons.
The acquisition received Hart-Scott-Rodino approval from the Federal Trade
Commission last month. The acquisition of ARDIS by American Mobile will
bring together the nation's largest terrestrial wireless data network with
satellite delivered mobile voice and data technology to provide complete
wireless solutions for the mobile workforce.
American Mobile Satellite Corporation is the only company licensed by the
FCC to provide Mobile Satellite Service in the U.S. The company offers a full
range of mobile communications including telephone, digital broadcast
dispatch, data and position reporting services with coverage over the
continental United States, Alaska, Hawaii, Puerto Rico, the Virgin Islands,
and hundreds of miles of U.S. coastal waters. American Mobile's shareholders
include Hughes Communications, Inc., Singapore Telecom, and AT&T Wireless
Services.
Factors that could cause forward-looking statements in this news release
to differ materially from actual results are discussed in American Mobile
Satellite Corporation's Form 10K for the year ended December 31, 1996;
Form 10Q for the quarter ended September 30, 1997 and other periodic filings
the company has made with the Securities and Exchange Commission. Copies of
the filings are available upon request from American Mobile Satellite
Corporation's investor relations department. |
