Company and tech news from the region.
Nucentrix files for bankruptcy
Nucentrix Broadband Networks Inc. filed for Chapter 11 bankruptcy and has agreed to sell some of its assets to a subsidiary of San Antonio-based SBC Communications Inc. for $15 million. The sale, which is subject to bankruptcy court and Federal Communications Commission approval, involves the company’s FCC licenses and leases for certain spectrums, transmission tower leases and equipment, and other assets. It is expected to close by the third quarter of 2004. Nucentrix said it first must obtain financing to fund operations through the closing. The Carrollton-based company provides broadband wireless Internet and multichannel video services.
AMX buys Media Access Solutions
Technology services provider AMX Corp. of Richardson bought Media Access Solutions of Ridgefield, N.J. Details of the transaction weren’t disclosed.
Media Access, founded in 2000, provides content storage, management and distribution services primarily for audio and video data. AMX and Media Access have been partnering for a year as part of an alliance of companies working on a project known as “InConcert,” which aims to achieve universal one-touch control and automation of audio and video data.
Microtune names new board member
Microtune Inc. named Anthony J. LeVecchio to its board of directors and to the post of chairman for the board’s audit committee. LeVecchio is president and owner of The James Group, a consulting firm for high-tech companies.
Before forming his own company in 1988, LeVecchio was chief financial officer of VHA Southwest Inc., a regional health care system. Microtune makes radio-frequency chips used in cable modems, PC/TVs, set-top boxes and other consumer electronics devices.
Internet America sues ex-chairman
Dallas-based ISP Internet America Inc. has filed a lawsuit against its former chairman, William O. Hunt, for trying to sell a controlling interest in the company. According to the company, Hunt has filed documents with the Securities and Exchange Commission stating that he is in negotiations to sell his 51 percent stake in Internet America. The complaint alleges that Hunt breached his fiduciary duties. Internet America said in the complaint it is seeking a declaratory judgment, injunctive relief and damages.
Hotels.com ends Travelocity pact
Discount lodging provider Hotels.com of Dallas is terminating a distribution agreement with Travelocity.com LP. The move comes more than a year before the contract between the two companies was set to expire. Hotels.com said it ended the relationship because Travelocity breached an exclusivity agreement it had with Hotels.com. The two companies established a relationship in January 2000 that enabled Hotels.com to offer its lodging inventory on Travelocity’s web site. Analysts estimate that the Travelocity deal accounted for about 14 percent of Hotels.com’s sales, according to reports.
Zix Corp. buys Elron Software
Zix Corp. bought Elron Software of Burlington, Mass., in a deal valued at about $7 million. Zix Corp. bought the assets and business of Elron Software for $6 million in stock and a $1 million convertible note from Elron’s parent company, Elron Electronics Industries Ltd. of Tel Aviv, Israel. Elron Software sells spam, e-mail and Web filtering software. Zix Corp. also sells antispam and antivirus software.
IPVoice buys stake in IP Global Voice
IPVoice Communications Inc. agreed to acquire a 51 percent stake in IP Global Voice Inc. The deal involves a $5 million capital commitment, a $500,000 note, warrants and a stock swap, IPVoice said. IPVoice said it would use the acquisition to enter the IP Centrex market. IP Centrex is a voice communications technology aimed at business customers. Dallas-based IPVoice markets emerging communication technologies. The company has annual revenue of about $2 million.
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