GE Capital’s Telecom, Media and Technology (TMT) financing business Monday announced that it has successfully completed 5 transactions totaling $591MM in financings in the first quarter of 2011.
“The first quarter for companies in our sector was active, in terms of both corporate financing and in financing private equity-backed companies," said Peter Foley, senior managing director of GE Capital, Telecom, Media and Technology.
SK Telecom announced that it will establish a cooperative relationship with China's biggest telecommunications company, China Mobile, in areas of mobile games and M2M.
SK Telecom signed a Memorandum of Understanding (MOU) with China Mobile Jiangsu on April 8 in Nanjing City, Jiangsu Province. The two companies agreed to jointly develop content and platforms in areas of mobile games and M2M (Machine-to-Machine). China Mobile Jiangsu is a branch of China Mobile that is responsible for the company's overall games business.
The European Smart Metering Industry Group (ESMIG), representing the leading companies in the area of smart metering, welcomed the European Commission's Communication on Smart Grids, but says that efforts in the area of smart grids have to be expedited if the EU is going to meet its 20-20-20 goals.
Microsoft Corp. and Toyota Motor Corp. last week announced that they have forged a strategic partnership and plan to build a global platform for TMC's next-generation telematics services using the Windows Azure platform. Telematics is the fusing of telecommunications and information technologies in vehicles; it can encompass GPS systems, energy management and other multimedia technologies.
Cybit and Masternaut, both European telematics companies providing vehicle tracking, fleet and driver management solutions, Monday announced that they have combined to form a single, pan-European telematics company. The new organization, which retains the Masternaut name, will have more than 500 employees supporting a 10,000-strong customer base across 32 countries.
Canadian telecom TELUS plans to launch its next generation, Long Term Evolution (LTE) network in early 2012, the company announced Wednesday. LTE technology supports manufacturers' rated peak download speeds of up to 150 megabits per second (Mbps) and upload speeds of up to 70 Mbps. This initiative is made possible by the launch in 2009 of Canada's coast-to-coast HSPA+ wireless network, which today covers more than 95 per cent of the Canadian population.
Telehealth and collaboration technology could transform health care delivery, say senior health care leaders from around the world, according to a survey conducted by the Cisco Internet Business Solutions Group (IBSG) Research & Economics Practice and Princeton Survey Research Associates International (PSRAI) released Wednesday at the World Health Care Congress in Washington, D.C.
Sprint Wednesday announced that VHA, an Irving, Texas-based health care purchasing network, has agreed to a three-year contract extension with Sprint worth an estimated $1.2 billion. Sprint, a primary telecom carrier to VHA since 1997, will continue to provide wireless services -- including solutions and handsets -- as well as wireline and data capabilities to VHA and Provista members.
Agriculture Secretary Tom Vilsack announced Wednesday that 10 rural electric cooperatives and utilities have been awarded funding to build or expand transmission and distribution lines and provide smart grid technology to benefit nearly 20,000 rural consumers, according to a press release from the United States Department of Agriculture (USDA).
Nortel Networks Corporation announced Monday that it and certain of its subsidiaries have entered into a stalking horse (the starting point against which others will bid prior to the auction) asset sale agreement with Google Inc. for the sale of all of Nortel's remaining patents and patent applications for a cash purchase price of US $900 million.