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No Bluff
NextWave Telecom swears it isnt bluffing about aggressively building out a wireless network and last week announced a deal with Lucent Technologies to begin construction. NextWave recently won a court case that awarded it licenses that have been tied up in messy litigation since 1996. The company plans to construct the network across 95 markets in 10 months and to resell services to other operators.
NAP Awake
Two Network Access Points have opened in south Florida. BellSouths FloridaMix NAP will compete with telecom consortium-owned NAP of the Americas for carrier customers. For years, there have been only four first-tier NAPs in the U.S.: Chicago, New York, San Francisco and Washington, D.C.
Hard Cash
Softswitch maker CopperCom last week closed on a $65 million venture financing round led by Advent International and Technology Crossover Ventures.
Metricom Down
Wireless high-speed Internet service provider Metricom has filed for Chapter 11 bankruptcy, blaming “the depressed state of the capital markets.” Metricom, which is backed by WorldCom and Paul Allens Vulcan Ventures, says it will continue to provide service in the 15 markets where it has rolled out Ricochet service as it reorganizes.
Deals Done
Global Crossing has completed the $3 billion sale of its local phone business to Citizens Communications, which shores up the worldwide network providers financial position. WorldCom completed its acquisition of Intermedia Communications, a deal that gives it controlling interest in Web host Digex.