Sprint Nextel to acquire Velocita Wireless

Sprint Nextel Corp. announced its plans to acquire Velocita Wireless, which operates a nationwide Mobitex wireless network, serving about 400,000 business and government customers. Velocita Wireless products include wireless messaging and e-mail, automated vehicle location, machine-to-machine and other automation applications. This deal comes as a result of Sprint Nextel's efforts to expand its iDEN network coverage, as after the acquisition the carrier will be able to use Velocita's 900 MHz spectrum. The use of this spectrum, however, will not affect Velocita's customers. The terms of the acquisition are not uncovered, but it is known that it is expected to close in the first half of 2006, after government approval.



Source: RCR News


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