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News
Issue #2001 - 50 (December 2001)
(Updated Dec.
12, 2001)
TECHNOLOGY
All Systems Go for Motient and TMI
Joint Venture
Mobile Satellite Ventures (MSV),
a joint venture by Motient, a wireless communications provider, and
TMI, a satellite communications company, has been granted regulatory
approval from both American and Canadian regulatory agencies, the
FCC and Industry Canada, respectively.
The joint venture has received the go ahead now to integrate
Motient’s satellite operations with those of TMI Communications.
"We've cleared an important regulatory hurdle in our quest to ensure the next generation of mobile satellite services," said Larry Boisvert, president and CEO of TMI Communications and vice chairman of
MSV.
Subject to separate regulatory approval, Mobile Satellite
Ventures plans to develop, build and operate a spot beam satellite
system supported by terrestrial base stations.
As previously announced, MSV issued $55-million in convertible
notes to its joint venture partners. Motient received $60-million in
the transaction, of which $45-million was in cash and $15-million in
a note, and remains a minority investor in the joint venture.
For more information: http://www.motient.com
Mobileinfo Comments & Advisory: Motient
does have satellite network operational expertise. Therefore, this
partnership should be good for TMI. Many logistics, fleet management and
remote field data collection applications will benefit.
Note: This news release may contain
forward-looking statements. Readers should take appropriate caution in
developing plans utilizing these products, services and technology
architectures. All trademarks used in this summary are
the property of their respective owners.
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