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Diamond I Acquires U.K. Gaming Software Company and Verizon Wireless Continues to Lead the Industry in Customer Loyalty21 May 2006
Wireless Communication industry news provided by Financial News USA (OTC: FNWU). Diamond I, Inc. (OTC BB:DMOI), a developer of wireless gaming products, including the WifiCasino GS(TM) wireless hand-held gaming system, recently announced that it has entered into a definitive agreement to acquire Touchdev Limited. The acquisition is being made solely for Diamond I stock and is expected to close in the very near future. Touchdev Limited, a private U.K. company, is the developer of an array of internally derived and copyrighted gaming software products, with wireless PDA and cellular-phone-based capabilities. Lucent Technologies (NYSE: LU) and Top Global recently announced a Business Continuity Wireless Gateway solution to help enterprises cost-effectively backup and recover their wireline network in the event of a natural disaster or other disruption. The solution addresses both business continuity -- the process of planning to ensure an organization can continue to operate -- and disaster recovery -- the process, after a crisis, to minimize business interruption and return to normal as quickly as possible.
Verizon Wireless, a joint venture of Verizon Communications and Vodafone (NYSE: VOD), has for the sixth consecutive quarter posted the lowest customer turnover rate in the wireless industry. In the first quarter of 2006, Verizon Wireless posted a churn rate -- the percentage of customers who leave their carrier quarterly -- of 1.18%, an industry record. In addition to the leading the industry in customer turnover rates, Verizon Wireless also added 1.6 million retail customers in the first quarter of 2006, more than any other carrier. UbiquiTel Inc. (Nasdaq: UPCS) said Wednesday that it has scheduled its annual shareholders meeting for June 27, at which stockholders of record as of May 11 will vote on Sprint Nextel Corp.'s proposed purchase of the wireless affiliate. On May 11, federal regulators approved the proposed purchase by Sprint Nextel of UbiquiTel for almost $1 billion in cash and the assumption of about $300 million in UbiquiTel's debt.
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