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Saturday, Jul 13, 2024
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NextWave Wireless Buys Stake in Japanese Wireless Carrier

San Diego-based NextWave Wireless Inc. announced on July 12 that it reached an agreement with Mori Trust Co. Ltd. of Japan to acquire part of IPMobile, a Tokyo-based telecommunications company and subsidiary of Mori Trust.

Terms of the agreement were not disclosed.

The transaction gives NextWave a 69.2 percent stake in IPMobile. Founded in 2002, IPMobile received permission from the Japanese Ministry of Internal Affairs and Communications to operate on spectrum in the 2 gigahertz band.

IPMobile is currently working with NextWave Wireless subsidiary IPWireless on the commercial launch of a wireless broadband network in Japan by November. IPWireless is a supplier of mobile broadband network equipment and subscriber terminals.

The newly announced agreement still needs government approval.

, Sam Blanchard

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