eAccess is set to launch their latest pocket WiFi router, the Pocket WiFi (GL09P). Powered by a built-in 5000mAh battery, this travel-friendly device has a 1.4-inch color LCD screen, supports up to 14 simultaneous connections and corresponds to the 2.5GHz AXGP/1.7GHz LTE/1.5GHz, 1.7GHz W-CDMA communication network (maximum downlink speed 110Mbps). The Pocket WiFi (GL09P) will begin shipping from early August for unannounced price yet. [Product Page]
Rumors of Sprint's $12 billion acquisition by Softbank weren't exaggerated, they were understated: according to CNBC, the Now Network will announce a $20 billion transaction with the Japanese network on Monday, granting Softbank a 70 percent stake in the company. According to people familiar with the matter, Softbank will purchase $8 billion in shares directly from Sprint, snagging an additional $12 billion in stock at $5.25 a share from other shareholders. The Japanese firm's payout would net Sprint $3 billion, money CNBC supposes it might use to regain control of Clearwire. Softbank's cash may also be used to bolster Sprint's ongoing LTE rollout, which is poised to light up in over 20 markets in the coming months. The details are said to be officially announced tomorrow morning, but we've reached out to Sprint for a comment in case it wants to spill the beans early.
Update: Just heard that the announcement is due at 4am Monday, so we'll likely learn more then.
Filed under: Cellphones, Mobile
CNBC: Softbank to pay $20 billion for a 70 percent stake in Sprint originally appeared on Engadget on Sun, 14 Oct 2012 17:25:00 EDT. Please see our terms for use of feeds.
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While recent rumors suggested Sprint could be interested in snatching up Metro PCS, it may actually be the target of an acquisition.The Nikkei, Reuters and Wall Street Journal report it is in final buyout talks with Japanese carrier Softbank at a price in excess of 1 trillion yen ($12 billion US). Just over a week ago Softbank snapped up rival eAccess in a billion dollar deal that added 50 percent more base stations to its LTE network and will move it from third to second largest in the country when it is completed. It got to third place with a leveraged buyout of Vodafone's Japanese arm back in 2006, and CEO Masayoshi Son mentioned last week that he has his eye on the number one spot. We're not exactly sure how a potential purchase of the third place American carrier fits into its plans (or what this means for Sprint's future, its LTE rollout and its often woeful 3G speeds), but we're betting Softbank's CFO is just trying to keep Son away from any juicy looking eBay "Buy It Now" auctions.
Update: Looks like those reports were on the money: Sprint just released a statement confirming it is in talks with Softbank about a possible transaction. Find that terse press release embedded below.
Filed under: Cellphones, Mobile, Sprint
Japan's Softbank in 'advanced talks' to acquire Sprint for more than $12 billion (update: confirmed) originally appeared on Engadget on Thu, 11 Oct 2012 07:16:00 EDT. Please see our terms for use of feeds.
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Softbank isn't content with being Japan's third largest wireless provider, so its scooping up competitor eAccess for $2.3 Billion (or $1.8 Billion, if you ask Reuters) to claim the number two slot. Bringing the other carrier into the fold will give Softbank a total of 39 million subscribers and infuse its network with 50 percent more LTE base stations. Picking up the new customers and additional LTE capacity comes at a premium, however, as the firm will purchase eAccess' shares for roughly three times their value. Softbank CEO Masayoshi Son expects to launch a new tethering service with the aid of the new-found resources come this December. Ink on the deal won't fully dry until February, but Son is already dreaming of the number one spot. "I never liked third place," Son said in a statement. "We fought for No. 2, and someday, we will be No. 1." You've been warned, NTT DoCoMo.
[Image credit: Miki Yoshihito, Flickr]
Filed under: Cellphones, Networking, Mobile
Softbank to acquire competitor eAccess, expand LTE network by 50 percent originally appeared on Engadget on Wed, 03 Oct 2012 05:29:00 EDT. Please see our terms for use of feeds.
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