wifi technology

Pacific DataVision Raises $218 Million and Acquires Sprint’s 900 MHz Spectrum

Paterson-based Pacific DataVision Inc., a provider of mobile workforce management solutions, announced that it has received FCC approval and has acquired all of Sprint Corporation’s  900 MHz spectrum licenses (approximately 6 MHz nationwide). PDV now becomes the only nationwide licensee of spectrum focused on launching a state-of-the-art two-way radio network dedicated solely to serving businesses. The service will target dispatch-oriented small and medium-sized businesses in the major metropolitan markets of the United States and will be offered primarily through Motorola Solutions, Inc.’s (NYSE: MSI) Authorized Dealer Network.

Mr. McAuley, Chairman of PDV, said, “Morgan and I are proud of the role we played in building Nextel into a carrier focused on the needs of the enterprise community. With the availability of Motorola Solutions’ digital radio technology, we see an opportunity to incorporate PDV’s proprietary cloud-based mobile resource management solutions into a next generation offering for businesses. These solutions increase productivity through the delivery of real-time information from and about mobile workers to their managers.”

“We have brought together an extraordinarily talented team of telecommunications industry veterans whose singular focus is on becoming the nation’s most business-centric, value-oriented communications solutions provider,” said John C. Pescatore, PDV’s Chief Executive Officer. “In addition to supporting and growing our existing wireless solutions business, we will be launching the largest private push-to-talk network in major markets throughout the United States.”

Mr. O’Brien has joined PDV as Vice Chairman leading the Company’s spectrum strategies and utilization enhancement efforts. “By acquiring Sprint’s nationwide spectrum at 900 MHz, we take on the challenge of making the most efficient use of that spectrum,” said Morgan O’Brien. “The selection of Motorola Solutions’ digital radio technology is the first step in that process. We will continue to explore ways to further improve spectrum efficiency.”

PDV recently raised over $218 million in equity funding in a private placement with institutional investors. FBR Capital Markets & Co acted as the sole initial purchaser and placement agent. In addition, as part of the spectrum transaction, Sprint received $10 million of the spectrum purchase price in the form of PDV common stock at the same price per share paid by the institutional investors. Further, Motorola Solutions has agreed to lease a portion of the spectrum from a PDV subsidiary.

Proceeds from these transactions are being used to acquire the spectrum licenses, build the nationwide push-to-talk network, and support PDV’s existing solutions business.

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