Globalstar L.P. said it plans to sell $250 million of senior notes due 2004 and warrants to purchase common stock of Globalstar Telecommunications Ltd. in a private offering. The company said it will use the proceeds to develop, construct and deploy a worldwide low-earth-orbit satellite digital communications system. The stock will be offered only to qualified institutional buyers, accredited institutional investors and certain people in offshore transactions, Globalstar said.
Northern Telecom Ltd.’s board of directors declared a dividend on the company’s Class A preferred shares series four. The dividend is payable on Feb. 12 to shareholders of record on Feb. 11. The board also declared a dividend on the company’s Class A preferred shares series five, which will be payable on March 1 to shareholders of record on Feb. 14.
Corsair Communications Inc. said it will install its PhonePrint fraud prevention system in GTE Mobilnet Inc.’s Texas and New Mexico markets. Corsair will begin installing the system this month in El Paso, Texas. Karen Puckett, president of GTE Mobilnet’s Texas area, said one of the chief attractions of this system is that it is transparent to the legitimate cellular user and only cloners will find their calls being instantaneously and systematically disconnected.
BearCom Inc., a two-way radio equipment dealer and distributor, acquired Cleary Communications Co. of Stoughton, Mass. The dealership, which serves the greater Boston area, eastern Massachusetts and Rhode Island, will assume the BearCom name. BearCom President Jerry Denham said the company believes strongly in the value of a national presence that gives it the ability to sell and service locally while leveraging the advantages of a national organization for faster service, wider selection and customer support.
Affordable Message Center said it will begin offering Simplicity Dispatch throughout American Paging’s local markets. The service will be available in 100, 200 or unlimited message packages. The company’s resellers can access all services through its Agent On-Line system, which is available 24 hours a day. Long Island, N.Y.-based Affordable Message Center provides wireless messaging services in the United States including bilingual operator dispatch services and value-added wireless information programs.
U S West Communications Group announced the formation of a new markets group organization charged with developing better and more integrated solutions to meet the specific needs of different customer segments. The new organization will be build around specific customer groups-residential customers, small businesses and major strategic accounts-to improve our speed and flexibility in meeting changing customer needs, said Sol Trujillo, president and chief executive officer of U S West Communications. U S West recently bid $57 million for D- and E-block personal communications services licenses.
