FTS Sets Closing Date for Ring Tone Network Acquisition and Verizon Wireless Extends Chaperone Family Locator Service
27 January 2007
Wireless Communications industry news provided by Financial News USA (OTC: FNWU). FTS Group, Inc. (OTC BB:FLIP), an acquisition and development Company operating in the wireless, technology and Internet space, recently announced that it has set January 31, 2007 as the scheduled closing date for its acquisition of a profitable ring tone network. FTS Group Chairman and Chief Executive Officer Scott Gallagher commented, "We expect to close the acquisition of the profitable ring tone network consisting of 161 operating web sites and domain names on January 31 pending completion of our due diligence.
Verizon Wireless, a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE: VOD), recently announced a full lineup of handsets that are capable of being located through its Chaperone(SM) family locator service. Chaperone, which has previously been available only on the green LG Migo phone, gives families an added peace of mind while helping locate each other's wireless phones. Telecom equipment maker UTStarcom Inc. (Nasdaq:UTSI) aid Wednesday it cut a deal with China Telecom to deploy its RollingStream Internet protocol television product for a new commercial network in Shanxi province. he company did not give financial terms. The service will offer up to 80 channels of live broadcast television, about 10,000 hours of video on demand content and extras such as karaoke and gaming. On Jan. 23, Alcatel-Lucent (NYSE:ALU) acknowledged that fourth-quarter sales fell 16%, wiping out quarterly profits and pushing full-year revenues slightly below the $24 billion posted in 2005. "The last quarter of the year proved challenging from a market perspective, driven by a shift in spending from some of our large North American customers and heightened competition in the global wireless market," Russo said in a prepared statement. Russo, an American, is Lucent's former boss.
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