NextWave Wireless announced that it has signed a definitive agreement to acquire all shares of IPMobile held by Mori Trust Co., Ltd., of Japan. Upon closing of the transaction, NextWave will hold a 69.2% stake in IPMobile. The agreement is subject to required government approvals. IPMobile has been working with IPWireless towards a commercial launch of a TD-CDMA wireless broadband network by November of this year. Terms of the agreement were not disclosed.
Founded in 2002, IPMobile received a nationwide concession of spectrum in the 2 GHz frequency band from the Ministry of Internal Affairs and Communications in November 2005.
“NextWave, through its IPWireless subsidiary, is a leading global supplier of TD-CDMA wireless broadband products and networks. Our investment is aimed at helping IPMobile accelerate its deployment of this powerful 4G wireless broadband technology before the end of this year in Japan, one of the most advanced telecommunications markets in the world,” said Allen Salmasi, chairman and chief executive officer of NextWave Wireless. “The 2 GHz spectrum allocated to IPMobile by MIC specifically calls for the deployment of TD-CDMA technology in Japan. We intend to help IPMobile implement one of the first 4G wireless broadband network deployments that can provide speeds of up to 30 Mbps and support a wide variety of user applications including bandwidth-intensive video streaming applications.”
“After the launch of IPMobile’s commercial network later this year, we look forward to following up with world-class companies in Japan to invest in the future of IPMobile’s business in order to bring new and exciting mass-consumer devices and applications to Japan’s marketplace and to extend Japan’s global leadership in wireless broadband services and technologies,” added Salmasi.