Starstruck Deal
EchoStar Communications has poured another $50 million into satellite high-speed Internet access provider StarBand Communications, which also is backed by Gilat Satellite Networks and Microsoft. Early last week, EchoStar abandoned its bid to purchase its larger competitor, DirecTV.
Cisco Invests
Cisco Systems made its first acquisition in seven months, swapping about $150 million in stock for AuroraNetics, a closely held telecom chipmaker. Cisco and optical fiber maker Corning also contributed major chunks of a $33 million round of funding for LightPointe, a free space optics company.
Comdisco Bankrupt
Comdisco has filed for Chapter 11 bankruptcy protection and will sell its 1,300-employee technology services arm to Hewlett-Packard for $610 million. The sale, though subject to bankruptcy court and regulatory approvals, should close in HPs fourth quarter.