Sprint PCS affiliate iPCS Inc. closed on the sale and leaseback of 51 towers as part of an agreement reached in September to sell up to 92 towers to TCP Communications L.L.C. The carrier, which serves more than 240,500 customers in 40 markets scattered throughout four Midwestern states, said the initial sale generated gross proceeds of approximately $9 million, and the total deal will generate $16.5 million once completed. The towers are located primarily in Michigan, Illinois, Iowa and Nebraska and had an average selling price of $180,000 per tower. The carrier said it will lease space on the towers at rates and terms consistent with that of its existing leases. Nations Media Partners Inc. advised iPCS on the sale.
Motorola Inc. signed an agreement to acquire MeshNetworks Inc. to extend its broadband wireless capability for next-generation content, including data, video, location and Voice over Internet Protocol services. The terms of the deal were not disclosed, but it is expected to take effect in the fourth quarter of this year. “This acquisition will provide Motorola with technologies that will have a significant benefit for customers across all of our businesses ranging from mission-critical and enterprise markets to automotive and home-entertainment applications,” said Greg Brown, president of Motorola’s commercial, government and industrial solutions sector. Mesh technology has gained currency for broadband during the past year, helping to extend new services and networks, including Wi-Fi. MeshNetworks also develops broadband radio and position-location technologies.
GoAmerica Inc., a provider of telecom services for the hearing impaired among other offerings, has retained investment banking firm Daniels & Associates to identify potential acquisition candidates. The company recently posted a net loss of $1.2 million for the third quarter, down from a loss of $1.4 million for the pervious quarter. GoAmerica said its balance sheet remains strong, particularly compared with periods prior to its restructuring. As of Sept. 30, the company had about $8.7 million in cash and cash equivalents, including $600,000 of restricted cash, and working capital of $9.1 million.
