Sprint Nextel Acquires Velocita

[Barry]

Sprint Nextel will acquire Velocita Wireless through a stock purchase agreement, and that the national carrier will begin using some of Velocita's 900 MHz spectrum. Terms of the deal were not disclosed.

New Jersey-based Velocita operates a nationwide Mobitex wireless network, which serves about 400,000 business and government customers. Its products include wireless messaging and e-mail, automated vehicle location, machine-to-machine and other automation applications. The spectrum use is not expected to impact Velocita's customers and Sprint Nextel will honor customer contracts with Velocita.

The deal is subject to regulatory approvals and expected to close in the first half of 2006.

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