Monday, April 9, 2007

IPWireless Acquired By NextWave Wireless

San Bruno-based IPWireless is being acquired by NextWave Wireless in a deal worth $100M in cash and stock. San Diego-based NextWave Wireless said today that it is in a definitive agreement to acquire IPWireless, which provides TD-CDMA network equipment and subscriber terminals for the communications market. The deal calls for NextWave to pay $25M in cash plus $75M in NextWave common stock for IPWireless, along with up to $135M in future payments tied to revenue-based milestones. IPWireless will operate as a wholly owned subsidiary of NextWave.