Metricom has enough cash and cash equivalents to survive through August, but in Securities and Exchange Commission filings, the companys own auditors say they doubt the provider of wireless broadband Internet service is viable. In its annual report, Metricom says it will need another $500 million to achieve positive cash flow from operations. Last month, Metricom announced that it would lay off about a quarter of its work force.
Stock for Switches
Vitesse Semiconductor says it will swap stock with Exbit Technology, a Danish fabless semiconductor company that is developing Gigabit Ethernet and 10-gigabit Ethernet switching and routing gear. The deal is expected to close by June 30.
The Williams Cos. says it will spin off 95 percent of its stake in Williams Communications to focus on its energy businesses. Williams owns about 85 percent of the operator of a 33,000-mile fiber-optic communications network.