IBC Follows Microsoft Co-Founder PaulAllen Into Wireless Stocks
<Picture: 24/7 ad>June 28, 1999 04:59 AM
IRVINE, Calif.--(BUSINESS WIRE)--June 28, 1999--IBC is now focusing on undiscovered wireless/convergence stocks and will soon be featuring Internet Media USRF and Telecom Wireless NOYR 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 : "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 WCOM and McCaw Communications, now AT&T T and Motorola MOT , which owns an 18% stake in Iridium IRID , 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 MSPG , Onemain ONEM , Concentric CNCX , AOL AOL , @Home ATHM , Qwest QWST , US West USW , Global Crossings (GLBX) and Frontier FRO , who are also racing to deliver the next generation in data delivery.
metricom.com -- Metricom MCOM announced on Monday that MCI WorldCom WCOM 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 BRK.A 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.
These include major investments in High Speed Access HSAC , Northpoint Communications NPNT , Priceline.com PCLN , Beyond.com BYND , Egghead.com EGGS , Value America VUSA , CNet CNET , Net Perceptions NETP , Liquid Audio and Hollywood Entertainment HLYW , drugstore.com and Ziff-Davis' ZD ZDTV and Go2Net GNET .
Indeed, Allen either owns or has taken a significant position in companies that may eventually allow him to compete against America Online AOL , the AT&T T /Excite@Home ATHM alliance, Microsoft and other contenders for the future of converging interactive media.
A spate of recent acquisitions suggests that the diverse pieces of this long-questioned quasi-empire are now falling into place and promising real synergies.
IBC Featured Web Sites
intelliquis.com INTQ -- E-Commerce usrf.com USRF -- Wireless ISP intermost.com IMOT -- Asian Web Portal nutritioncafe.com TRIM -- Internet Health & Nutrition cytation.com CYTA -- Online Learning wrdp.com WRDP -- Telecom noyr.com NOYR -- ISP Rollup
Disclaimer: IBC has received compensation for services and has acquired: 40,000 shares of Intermost and $265,000 cash; 500,000 Sims Communication (SIMSC) shares; 80,000 Intelliquis International presplit shares and $40,000 cash; 75,000 WorldPort Communications (WRDP) shares of common stock; Cytation.com paid 40,000 shares of common stock, 25,000 (144) restricted stock and 150,000 warrants; Internet Media paid 500,000 shares; and TrimFast Group paid 50,000 shares of common stock and 20,000 (144) restricted stock. |
