Friday, July 13, 2007

NextWave Wireless Buys Majority Stake In IPMobile

San Diego-based NextWave Wireless, a provider of mobile broadband products, said Thursday evening that it has signed a definitive agreement to acquire shares of IPMobile, a Tokyo-based telecommunications company. The firm is buying the interest from Mori Trust Co. Ltd, of Japan. The firm said that the deal will give it a 69.2% stake in IPMobile. IPMobile is a major customer of NextWave's IPWireless subsidiary, which develops TD-CDMA wireless products. Financial terms of the purchase were not disclosed.