NewMarket Technology, Inc. to Acquire TekVoice Communications, Inc. and Verizon Wireless Purchases Spectrum License
20 January 2007
Wireless Communications industry news provided by Financial News USA (OTC: FNWU). NewMarket Technology, Inc. (OTCBB: NMKT) recently announced executing a letter of intent (LOI) agreement to acquire the majority interest in TekVoice Communications, Inc. NewMarket and Diamond I, Inc. (OTCBB: DMOI) have entered into a letter of intent agreement to consolidate Wi-Fi technology assets and proprietary knowledge to build a comprehensive emerging Wi-Fi business that can be leveraged to build revenue and profits in various market segments.
Verizon Wireless, a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE: VOD), recently announced it has purchased a wireless spectrum license from Alpine-Monterey F, Inc. for $4.5 million. The license covers the Salinas-Monterey area in northern California. The company purchased the license to add capacity to its wireless network and meet the growing demand for its services in the area. GigaBeam Corp. (Nasdaq:GGBM), a maker of wireless communications equipment, on Wednesday said it consolidated some operations and reduced its work force to cut costs. The company said it consolidated operations, research and development and customer service activities at its Research Triangle location in North Carolina. The company will move its headquarters to North Carolina from Herndon, Va. The Alcatel-Lucent (NYSE:ALU) deal raised concerns among the four business groups because CFIUS reportedly required the companies to agree to a so-called "evergreen" provision that would allow the federal government to impose new conditions on the combination and even unwind the transaction at any future date if security concerns arose.
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