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.
For the second year, we've identified the people, organizations, techs and trends expected to have a major impact o… twitter.com/i/web/status/1…
October 16 2019 @ 18:12:06 UTC