Capital Markets: Livewire buys FoneStarz; Millicom sells towers; and more

Livewire Mobile Inc. said it acquired FoneStarz Media Group, which is a mobile content supplier and digital storefront that works with a variety of telecom and media brands. The combined company will provide application distribution, ringback, full-track music, video, advertising, ringtones, images and games. Livewire said it will incorporate the FoneStarz platform into its Infuse integrated storefront solution for mobile operators.
Millicom International Cellular‘s Tigo subsidiary in the Democratic Republic of the Congo agreed to sell 729 towers to Helios Towers. The company will receive $45 million in cash upfront for the tower assets and will retain a minority interest in Helio. The two companies also entered a long-term leasing agreement that will give Tigo access to wireless towers and a build-to-suit agreement to support future buildouts.
Leap Wireless International said its Cricket Communications subsidiary launched an exchange offer for its outstanding unregistered 7.75% senior notes due 2020. The notes originally were issued on Nov. 19 in a private placement in an aggregate principal amount of $1.2 billion. Noteholders may exchange their notes for an equal principal amount of the new issue of 7.75% senior notes due 2020, said the company. Leap said terms of the notes are nearly identical to the new notes except for transfer restrictions, registration rights and additional interest provisions.
Clearwire Corp. said initial purchasers of its recent notes offering partially exercised their $100 million over-allotment option by purchasing an additional $79.25 million aggregate principal amount of the exchangeable notes. The notes were issued in a private offering.
WPCS International announced results for its second fiscal quarter, including revenue of $26.7 million, an increase from revenues of $24.3 million reported during the same period last year. The company’s net loss for the quarter was $6 million, or 86 cents per share, compared with net income of $337,000, or 5 cents per share, during the corresponding period a year ago.
Comarco Inc. formally notified the Nasdaq Stock Market that it intends to delist its common stock from the market. The company said it expects its stock to move to the OTC Bulletin Board. Comarco also announced results for its third fiscal quarter. Revenues for the quarter were $5.5 million, down from $7.6 million reported during the same quarter last year. Net loss for the quarter was $1.3 million, or 18 cents per share, compared with net loss of $400,000, or 6 cents per share, during the corresponding period a year ago.
Research In Motion reported revenues of $5.49 billion for its third fiscal quarter of 2011, up 40% from revenues of $3.92 billion during the same period last year. Net income for the quarter was $911.1 million, or $1.74 per share, compared with net income of $628.4 million, or $1.10 per share, during the corresponding period a year ago.