Wireless Communications industry news provided by Financial News USA (OTC: FNWU). NewMarket Technology, Inc. (OTCBB:NMKT) and Paragon Financial Corporation (OTC:PGNF) recently announced that the companies have entered into a binding agreement to combine NewMarket's Latin American operations into Paragon Financial Corporation. NewMarket and Diamond I, Inc. (OTCBB:DMOI) have signed a letter of intent agreement to consolidate Wi-Fi technology assets expected to generate revenues of $10 million in 2007.
Vodafone Group PLC (NYSE:VOD), the world's largest mobile phone network operator, said Monday it agreed with Internet search leader Google Inc. (Nasdaq:GOOG) to develop maps for mobile telephones. Vodafone said it will, in conjunction with Google Maps, provide easy-to-use maps, local listings and search and navigation capabilities. "Vodafone sees Google Maps as a new milestone in the relationship that both companies are developing." said Frank Rovekamp, global chief marketing officer of Vodafone. Alcatel-Lucent SA (NYSE:ALU) plans to cut 1,500 jobs in France over three years, a French labor union official at the Paris-based telecom equipment maker said Tuesday. The center-left CFDT union's top representative on the Alcatel-Lucent works council, Francis Cauchy, said management had given "a total figure of 1,500 job cuts for French operations." An Alcatel-Lucent spokeswoman said the company would not comment on planned job cuts while meetings with labor representatives continued. UTStarcom Inc. said Friday it signed a deal to sell its Internet protocol television system in India. The Alameda company (NASDAQ: UTSI) is working with a local partner, AKSH Optifibre Ltd. on the project. New Delhi-based Mahanagar Telephone Nigam Ltd. will provide the existing network for the service. Customers (in New Delhi and Mumbai for now) will be able to use the service to see television programs that aired up to one week in the past.
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