O3B Networks, which is building a satellite Internet backbone for telecom operaters and ISPs, said it closed its final funding round prior to its service launch, bringing its total financing to $1.2 billion. The funding will carry the company through the launch of its first satellites, said O3B.
Renesas Electronics completed its acquisition of Nokia‘s Wireless Modem Unit. The transaction was announced in July. Renesas assumes full control of the business, which develops wireless modem technology for LTE, HSPA and GSM standards.
Syniverse Holdings said it was granted an early termination of the Hart-Scott-Rodino waiting period related to its proposed merger with an affiliate of The Carlyle Group. The agreement was announced Oct. 28 and calls for investment funds affiliated with The Carlyle Group to acquire all common shares of Syniverse for $31 per share in cash.
Motorola Inc. said its board of directors has approved the separation of Motorola Mobility from the company. The split will be accomplished through a tax-free dividend involving the distribution of all Motorola Mobility common stock held by Motorola to Motorola stockholders. The company also approved a reverse stock split of the company’s common stock following the distribution.
Alcatel-Lucent said it began a private placement of about $650 million of senior notes. The company said proceeds from the sale are designated to partially refinance 4.75% convertible/exchangeable bonds due Jan. 1, 2011.
American Tower reported revenues for the third quarter of $513.3 million, up 15.6% from revenues of $444.1 million during last year’s third quarter. Net income for the quarter was $93.6 million, or 23 cents per share, compared with net income of $67.6 million, or 17 cents per share, reported during the corresponding period a year ago.
