IPWireless stake sold at knock-down price

8 Jan 2009

NextWave has sold 75% of IPWireless for USD100 million, after it paid USD1 billion to purchase the 3G solutions developer just twelve months ago. The buyers, a consortium made up of the original IPWireless management team led by founder William Jones, are said to have a new backer who is prepared to supply long-term funding, but has not revealed their identity. NextWave Wireless will retain a minority stake in the company.

United States