Pacific DataVision, a mobile workforce management platform provider, has raised $218 million in equity and acquired all of Sprint Corp.’s 900 MHz spectrum.
New Jersey-based PDV will use the spectrum for a two-way radio network – built on Motorola Solutions’ digital radio technology – targeting SMBs with dispatch operations.
PDV says the launch will start next year in major metropolitan markets across the United States and will create the largest private push-to-talk network; it will be sold through Motorola dealers. Further, Motorola Solutions has agreed to lease a portion of the spectrum from a PDV subsidiary.
Now, PDV is using proceeds from its $218 million equity round, obtained from FBR Capital Markets & Co., to buy the spectrum licenses, build the push-to-talk network and support its existing solutions business.
PDV is run by former Nextel executives including Brian McAuley and Morgan O’Brien. Sprint bought Nextel in 2005.
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January 16 2019 @ 18:48:27 UTC