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Tuesday 18 November 2008
Design
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Mobile TV start-up sold for $235m
Wednesday 18 April 2007
Chippenham-based telecoms chip and systems developer IPWireless has been sold to a US start-up NextWave Wireless for up to $235m.
IPWireless will be run as an independent company, joining software video codec company PacketVideo and mobile WiFi networking company Go Networks within NextWave, as well as the firm’s own team of 200 people in San Diego developing WiMAX chips and systems.
“We are 100 staff and it’s really a case of getting economies of scale, and to take the technology and have it widely adopted we needed the relationships with customers and the support of a larger organisation,” said Bill Jones, chief operating officer of IPWireless and one of the founders.
“The current business plan [supplying mobile phone networks] was part of the deal and we are fully staffed to realise that plan,” said Jones. “We also have a TDTV project for mobile TV and we are currently in discussions on how to take that forward. After the deal closes we will sit down and develop a product roadmap.”
NextWave Wireless was formed in 2005 after the spectrum assets of Next Wave Telecom were sold for $3bn to Verizon.
The deal will be completed in the next quarter with an immediate payment of $25m in cash and $75m in Nextwave shares. An additional $135m is payable if the company meets certain performance milestones until 2009.
IPWireless will be run as an independent company, joining software video codec company PacketVideo and mobile WiFi networking company Go Networks within NextWave, as well as the firm’s own team of 200 people in San Diego developing WiMAX chips and systems.
“We are 100 staff and it’s really a case of getting economies of scale, and to take the technology and have it widely adopted we needed the relationships with customers and the support of a larger organisation,” said Bill Jones, chief operating officer of IPWireless and one of the founders.
“The current business plan [supplying mobile phone networks] was part of the deal and we are fully staffed to realise that plan,” said Jones. “We also have a TDTV project for mobile TV and we are currently in discussions on how to take that forward. After the deal closes we will sit down and develop a product roadmap.”
NextWave Wireless was formed in 2005 after the spectrum assets of Next Wave Telecom were sold for $3bn to Verizon.
The deal will be completed in the next quarter with an immediate payment of $25m in cash and $75m in Nextwave shares. An additional $135m is payable if the company meets certain performance milestones until 2009.
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