HighwayMaster Communications Inc. announced it reached an agreement with SBC Communications Inc. for a $20 million equity investment in HighwayMaster. The company said SBC’s initial investment will be in preferred stock, which is convertible into common stock at the rate of $12.50 per share. In addition, SBC will receive 5 million warrants-3 million of which are exercisable for common stock at $14 per share, with the remaining 2 million shares exercisable at $18 per share. HighwayMaster offers mobile communications, information systems and fleet management services covering a large part of the nation’s interstate highway system.
Corsair Communications Inc. will supply its PhonePrint cellular fraud prevention system to Greensboro, N.C.-based Vanguard Cellular Systems Inc. PhonePrint uses radio frequency fingerprinting technology to detect and disconnect calls from cloned cellular phones. Corsair will begin deploying the system in November to several of Vanguard’s Pennsylvania markets. The company also will deploy the system in BellSouth Cellular Corp.’s Cellular One properties. Cellular One encompasses a 31-county area in Wisconsin and northern Illinois. Corsair said PhonePrint has reduced local market cloning as well as roaming fraud in the nation’s largest cellular markets by as much as 90 percent.
AirTouch Cellular announced it will introduce Caller I.D. and Powerband Messaging to its Los Angeles subscribers. Powerband, available for $9 per month, enables a digital phone to act as an answering machine that stores messages as voice mail, digital pages or short text messages. Subscribers can immediately return pages and voice mail messages by pressing the “send” button, which then dials the phone number displayed, the company said. Caller I.D. will be offered to Powerband customers at no extra charge.
CellStar Corp. will sell its Communications Center retail business-conducted inside Sam’s Club locations nationwide-to MCI Communications Corp. MCI will buy the 355 retail stores by the end of CellStar’s fourth quarter, the company said. According to the agreement, MCI will acquire the assets of the retail operations and retain most of the chain’s employees. CellStar said it will sign a distribution agreement to provide MCI with cellular phones and accessories for the stores. CellStar said proceeds from the sale will be used to reduce its bank debt and for general purposes.
Daniels & Associates announced an affiliate of Centennial Cellular Corp. acquired the partnership interests of Masters Cellular Partnership, which provides cellular service in the Benton Harbor, Mich., area. In addition, Cape Fear Paging Company of North Carolina Inc. has acquired Telephone Answering Service of Fayetteville Inc.
