LightSquared (Reston, Va.), a wholesale-only integrated 4G-LTE wireless broadband and satellite network, announced on Tuesday that it has raised $265 million in additional financing. The capital was drawn from both existing investors as well as new investors in the company.
According to LightSquared, the additional financing will be used for general corporate purposes, which includes constructing its 4G-LTE wholesale network. Over the last 12 months LightSquared has raised over $2.3 billion.
Philip Falcone’s Harbinger Capital has already put $3.1 billion into the company.
Verizon Wireless (New York, N.Y.), a mobile service provider, will stop offering new customers unlimited data service plans starting on Thursday.
According to a Verizon spokesperson, Brenda Raney, existing customers can continue to use the unlimited plan they are already on, new customers will have to use one of the new data plans.
On the new data plans Verizon Wireless plans to charge $5 more per month than AT&T Inc, which stopped offering unlimited data services last year.
Singlewire Software (Madison, Wis.), a developer of voice applications for mass notification, on Tuesday announced the release of the new Singlewire M2M plugin for its InformaCast system.
InformaCast is a full-featured, network-based mass notification, emergency communication, and overhead paging system that allows users to send an audio and/or text message to a variety of endpoints including IP speakers, Cisco IP phones, overhead paging systems, computer desktops, digital signage, SMS text, social media sites, and more.
General Electric (Fairfield, Conn.) is looking for acquisitions in smart grid technology according to Keith Redfearn, the EMEA & India regional general manager for GE Energy.
In January, GE acquired Remote Energy Monitoring, Ltd., a smart metering technology company that operations in the United Kingdom and Australia. In May, GE announced its plans to acquire FMC-Tech (Houston Texas), a provider of real-time power line monitoring for power grid technology. The acquisition is expected to be completed this month.
In a report conducted by research firm Technavio, it is forecasted that the Chinese electric vehicle (EV) charging station market will grow at a Compound Annual Growth Rate (CAGR) of 86% from 2010 to 2014.
According to Technavio, the EV Charging Station market reached $321 million in 2010 and is expected to grow to $1.2 billion in 2011 due to the huge investment being made to develop the infrastructure required by electric vehicles.
Johnson Controls (Milwaukee, Wis.), a company delivering energy efficiency in buildings, has completed the previously announced acquisition of EnergyConnect Group, Inc., a provider of smart grid demand response services and technologies. The acquisition was completed on July, 1, 2011.
According to a Johnson Controls spokesperson, the acquisition of EnergyConnect was report at $32.3 million dollars.
According to a report by Pike Research, a market research and consulting firm, energy markets in the Asia Pacific region are experiencing a period of significant growth and development, with a forecasted smart grid market growth of $16.9 billion in the next six years.
NASA last Friday announced an experiment titled “Advanced Diagnositic Ultrasound in Microgravity,” which involves crewmembers onboard a space shuttle conducting ultrasound exams on one another as they are instructed from a radiologist on the ground.
According to the announcement, “Crews traveling beyond Low Earth Orbit (LEO) need the telemedicine strategies this experiment investigates, should injury or illness occur in space. There are also widespread Earth applications for emergencies and rural care situations.”
Vodafone (London, England), a mobile operator, could receive an annual dividend of $5.5 billion from its stake in Verizon Wireless (New York, N.Y.), its finance officer said.
A spokesman said Andy Halford, Vodafone's chief financial officer, had told reporters in New Delhi on Wednesday that the $5.5 billion figure stemmed from an assumption that Verizon Wireless had an annual free cash flow of $10 billion to $12 billion.
Technology company, Samsung (Seoul, South Korea) asked the U.S. International Trade Commission to ban the importation of Apple's (Cupertino, CA) iPhones, iPads and iPods, following its dispute with Apple.
The filing, dated Tuesday, says Apple's iPhone, iPod digital music player and iPad tablet infringe on five of Samsung's patents involving telecommunications standards and user interface inventions.