An estimated $590 million was spent on smart grid security technologies in 2010 and by 2016 that number is projected to surpass $2 billion, according to a report by ABI Research (Oyster Bay, N.Y., U.S.A.). However, despite this, cyber security challenges are nowhere close to being resolved, and the industry will continue to face a number of serious hurdles in the coming years, says Pike Research (Boulder, Colo., U.S.A.).
Tekelec (Morrisville, N.C., U.S.A.), a mobile broadband solutions company, announced on Monday that it has entered into an agreement to be acquired by a consortium led by Siris Capital Group, LLC (New York). The transaction was valued at approximately $780 million.
Alcatel-Lucent (Paris, France) scaled back its profitability goal for the year, raising new doubts about Chief Executive Ben Verwaayen's ability to turn around the long-struggling telecom equipment maker.
Alcatel-Lucent, like rivals Ericsson (Stockholm, Sweden) and Nokia Siemens Networks (Espoo, Finland), is suffering as telecom operators cut spending on their networks in reaction to macroeconomic uncertainty, especially in Europe.
Sprint Nextel Corp (Overland Park, Kan., U.S.A.) said it could use the proceeds from a private debt offer to fund Clearwire Corp (Kirkland, Wash., U.S.A.), sending shares in the cash-strapped high-speed wireless firm up 8% on Friday.
Sprint sold $4 billion in bonds on Friday, according to underwriters. The company had included Clearwire funding among possible uses for the debt proceeds when it announced the offering on Friday morning.
Trunkbow International Holdings Limited (Beijing, P.R.C.), a provider of mobile payment services, on Thursday announced that it has signed a formal strategic partnership agreement with Tianyi e-Commerce Limited, a wholly owned subsidiary of China Telecom (Beijing, P.R.C.), for the development and marketing of China Telecom's Bestpay m-commerce payment application. Under the agreement, Trunkbow is to provide application development and support services for the mobile application, which was rolled-out to China Telecom's 3G subscribers across mainland China in August.
Telecom operators have begun to release financial results for the third quarter of 2011. In the United States, AT&T, Verizon Communications and Sprint all posted revenue in line with expectations, although both AT&T and Verizon saw weak smartphone sales. In Europe, France Telecom was hurt by the weak European market, and has continued to move into the Middle East and Africa to offset its losses.
Clearwire Corp (Kirkland, Wash., U.S.A.) needs another big wholesale customer to make investors less nervous about buying stock in the wireless service provider, which is majority owned by its biggest customer Sprint Nextel (Overland Park, Kan., U.S.A.).
Some on Wall Street worry that Clearwire -- which has been seeking almost $1 billion more financing to fund its operations and upgrade its network -- is over-reliant on Sprint, with which it has clashed repeatedly in the past.
A judge on Wednesday ruled that Sprint (Overland Park, Kan., U.S.A.) and C Spire Wireless (Ridgeland, Miss., U.S.A.) can pursue part of their antitrust lawsuit against AT&T Inc's (Dallas, Texas, U.S.A.) proposed $39 billion acquisition of T-Mobile USA, a unit of Deutsche Telekom AG (Bonn, Germany).
AT&T and T-Mobile had sought to dismiss the lawsuit, but U.S. District Judge Ellen Huvelle agreed to allow the competitors to pursue their injury claims about the effect the deal would have on the market for wireless devices.
On Tuesday, Sierra Wireless (British Columbia, Canada) and the Eclipse Foundation (Ontario, Canada), a nonprofit vendor neutral corporation consisting of individuals across the software industry, announced the formation of a new Industry Working Group to define and implement an open standard platform for the software development tools used in developing machine-to-machine (M2M) applications.
Despite several years of economic woes and rapidly expanding debt, The Republic of Ireland has announced its commitment to Electric Vehicles (EVs) and an aggressive roll-out of charging infrastructure. The country is installing 1,500 public charging stations this year, which puts the country on pace to have a greater penetration per capita than the United States.