66.5 F
San Diego
Saturday, Jul 13, 2024
-Advertisement-

NextWave’s Next Acquisition? It’s IP Wireless

NextWave Wireless Inc., a San Diego-based provider of mobile broadband products and technologies, said it signed a definitive agreement April 9 to acquire IP Wireless, a San Bruno-based supplier of telecom network equipment.

NextWave is paying $100 million , $75 million in stock and $25 million in cash , for the company. The deal could grow to $135 million based on achieving certain revenue milestones through 2009, the company said.

NextWave’s main subsidiary, Packet Video, makes software that enables cell phones to stream, download and play music and video.

NextWave has 700 employees worldwide, including 275 working in San Diego. IP Wireless has 100 employees, most of whom work in the United Kingdom.

Traded under WAVE on Nasdaq, shares of NextWave were up 3 percent in April 9 trading, and have ranged from $9.45 to $12.75 since its initial public offering last year.

, Mike Allen

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-