NEW YORK, Nov 20 (Reuters) - Clearwire Corp (CLWR) said on Thursday its shareholders had voted to approve its proposed high-speed wireless joint venture with Sprint Nextel Corp (S) that includes an investment of $3.2 billion from cable, Web and chip partners.
Analysts had widely expected the vote, which was the last remaining hurdle for the deal, to be in favor of the venture, which will take on the Clearwire name. The venture would build a network based on WiMax, an emerging high-speed wireless technology.
Clearwire, which has the consent of the majority of its lenders, said it expects to amend and restate its credit agreements shortly to permit the deal.
In early May Clearwire and Sprint announced plans for a $14.5 billion venture that they hope would give them a head-start on AT&T Inc (T) and Verizon Wireless in developing the next generation of wireless data services.
As part of the deal, five strategic partners are investing a combined $3.2 billion in the venture. They include Intel Corp (INTC), Google Inc (GOOG), Comcast Corp (CMCSA), Time Warner Cable Inc (TWC) and Bright House Networks.
It wasn't immediately clear why shares of both Clearwire and Sprint were down sharply following the news.
Clearwire fell 23 percent to $4.46 at mid-afternoon on Nasdaq. Sprint dropped 20 percent to $1.50 on New York Stock Exchange. (Reporting by Sinead Carew, editing by Richard Chang)
Friday, November 21, 2008
Friday, November 07, 2008
USB graphics productivity is available now in a fun new pint size package. Powered by DisplayLink technology, the Nanovision MIMO 7" USB connected and powered LCD mini monitors are a friendly and affordable way to add productivity to notebook and desktop computers.
Hitting the Korean market first, the Nanovision MIMO monitors are ideal for dedicating visual workspace to applications that are used at a glance, such as instant messaging and calendars. MIMO is also perfect for Gadgets and Widget applications like news and weather monitoring and multimedia playback such as digital TV, video conferencing, MP3s, photos and more.
"Nanovision gives you what you want, when you want it," said Hamid Farzaneh, president and CEO of DisplayLink. "Fun applications are always within view, while reserving your main screens to the productivity task at hand."
Using USB for both connectivity and power, Nanovision is able to offer MIMO at consumer price points. The 700 series starts with the UM-710 7". Priced at 130,000 South Korean Won (US $129), it supports 800x480 resolution and both landscape and portrait orientation and either mirror or extend display modes.
"By exclusively becoming a USB device, the monitor has been transformed from a PC component to a consumer electronics gadget," added Farzaneh. "And by integrating multi-function features like VoIP, DTV and Touch Panels, the interesting uses for this technology have yet to be fully realized."
The MIMO model UM-730 adds a complete videophone with 1.3M Webcam, MIC and earphone jack, and the UM-750 features a Touch Screen. Nanovision sells direct to consumers and to electronics Original Equipment Manufacturers (OEMs). For more information about Nanovision and the MIMO mini display visit www.nanovision.co.kr
"The MIMO mini display is so versatile," concluded Farzaneh. "We can't wait to see it make its way to desks worldwide."
DisplayLink Corp. is a chip and software company that helps people to create simple connections between computers and displays -- via USB or Ethernet. Its innovations make it easy to get more visual workspace while taking less time, money and energy than competing multi-monitor solutions. Using universally accepted wired or wireless networking protocols and proprietary software compression techniques, DisplayLink technology can transmit graphically rich content between a single device and multiple displays over a network. Leading global manufacturers have integrated DisplayLink technology into an array of PC accessories including monitors, video docking stations, display adapters and projectors. More information is at www.displaylink.com.