Key Developments: Verizon Communications Inc (VZ.N)
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17 May 2013
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Latest Key Developments (Source: Significant Developments)
Verizon Communications Inc And Vodafone Group Plc's Verizon Wireless Acquires Wireless Services Spectrum Licenses
Verizon Communications Inc announced that Verizon Wireless, a joint venture between Verizon Communications Inc and Vodafone Group Plc, has entered into an agreement to acquire Advanced Wireless Services spectrum licenses for $3.6 billion. Full Article
Verizon Communications Inc's Verizon Wireless And WellPoint, Inc. Collaborate to Make Healthcare Management Simpler Via Mobile Technology
Verizon Communications Inc's Verizon Wireless and WellPoint, Inc., announced a digital initiative that utilizes high-quality, secure video conferencing through Verizon Wireless' 4G LTE network to help consumers take steps to live healthier. The collaboration represents the approach both companies have undertaken to advance healthcare-related services by enabling seamless, virtual dialogue between consumers who are members of a WellPoint-affiliated health plan and their nurse care managers, all from the convenience of a 4G LTE mobile device. Full Article
Comcast Corp., Time Warner Cable Inc. And Bright House Networks Sell Advanced Wireless Spectrum To Verizon Wireless, JV Between Verizon Communications Inc. And Vodafone Group Plc For $3.6 Billion
SpectrumCo, LLC, a joint venture between Comcast Corp, Time Warner Cable, and Bright House Networks, announced that it has entered into an agreement pursuant to which Verizon Wireless will acquire its 122 Advanced Wireless Services spectrum licenses covering 259 million POPs for $3.6 billion. Comcast owns 63.6% of SpectrumCo and will receive approximately $2.3 billion from the sale. Time Warner Cable owns 31.2% of SpectrumCo and will receive approximately $1.1 billion. Bright House Networks owns 5.3% of SpectrumCo and will receive approximately $189 million. The companies also announced that they have entered into several agreements, providing for the sale of various products and services. Through these agreements, the cable companies, on the one hand, and Verizon Wireless, on the other, will become agents to sell one another's products and, over time, the cable companies will have the option of selling Verizon Wireless' service on a wholesale basis. Additionally, the cable companies and Verizon Wireless have formed an innovation technology joint venture for the development of technology to better integrate wireline and wireless products and services. The companies also announced that they have entered into several agreements, providing for the sale of various products and services. Verizon Wireless is a joint venture of Verizon Communications and Vodafone. Full Article
Verizon Communications Inc Appoints Lowell McAdam As Chairman
Verizon Communications Inc announced that the Board of Directors elected Verizon President and CEO Lowell C. McAdam as chairman, effective January 1 , 2012. In addition, Melanie L. Healey , group president for North America at Procter & Gamble Co., was elected as a new member of Verizon's board, effective immediately. McAdam's chairmanship will begin following the retirement of Ivan G. Seidenberg as Verizon's chairman on December 31 . Full Article
Verizon Communications Inc Declares Quarterly Dividend
Verizon Communications Inc announced that the Board of Directors of Verizon Communications Inc declared a quarterly dividend of $0.50 per outstanding share, unchanged from the previous quarter. The dividend is payable on February 1, 2012 , to Verizon Communications shareowners of record at the close of business on January 10, 2012 . Full Article
Court Issues Injunction Against Verizon Communications Inc; Sets Deadline to Stop Unlawful Use of ActiveVideo Patents in FiOS Service
Judge Raymond A Jackson, US District Court Judge for the Eastern District of Virginia, issued an injunction against Verizon Communications Inc ordering the company to 'cease and desist' from the continued, unlawful use of intellectual property belonging to ActiveVideo Networks. The injunction is effective May 23, 2012. In the interim, Verizon must make monthly sunset royalty payments of $2.74 per subscriber per month starting December 1, 2011. The injunction follows the award by the jury in August of $115 million. That award was increased by the Court. To date ActiveVideo has been awarded a total of $139.1 million in damages, supplemental damages and interest. Full Article
Verizon Communications Inc To Provide Professional Services, Custom Networking Under U.S. General Services Administration's CONNECTIONS II Contract
Verizon Communications Inc announced that Federal agencies will be able to tap the power of Verizon information technology, from the network to the desktop, under a new contract awarded by the U.S. General Services Administration. Verizon Communications Inc was named a prime contractor under GSA's CONNECTIONS II contract, which has a contract ceiling of $5 billion over nine years and three months. The Company will compete to provide individual federal agencies with an array of professional and managed services and custom networking solutions at federal buildings and campuses. The offerings will include communications equipment and networking, professional services, consulting and support services, customer services, technical support and custom solutions covering the point of connection with the agency's network all the way to the user desktop. Full Article
Verizon Communications Inc Reaffirms FY 2011 Guidance
Verizon Communications Inc announced that it is on track to achieve its fiscal 2011 earnings and revenue guidance. The Company has targeted fiscal 2011 adjusted EPS growth of 5% to 8% from an adjusted base of $2.08 in EPS in fiscal 2010, and revenue growth of 4% to 8% on a comparable basis with fiscal 2010. The Company reported revenues of $106.565 billion in fiscal 2010. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $110.724 billion for fiscal 2011. Full Article
Motorola Mobility Holdings Inc And Verizon Communications Inc Collaborate To Deliver Connected Home Services
Motorola Mobility Holdings Inc announced that it has teamed up with Verizon Communications Inc to bring you the connected home. Verizon announced its Home Monitoring and Control service. The new service leverages Motorola's 4Home technology to make home smarter and provide useful insight into energy use. Motorola's 4Home software platform is powering Verizon's new services. It's the versatile and practical way for Verizon and other digital home innovators to offer connected home services. No complex systems. No custom hardware. The software platform is embedded into the gateway included in each Verizon service kit. The software communicates with Motorola's portal server solution to provide real-time support for the home monitoring, control and energy management services. The result is reliable connected home services for consumers that can be hosted and managed in real-time. Full Article
Verizon Communications Inc and Duke University Join Forces to Develop Transformative Health Information Technology Initiatives
Verizon Communications Inc and Duke University will jointly develop health information technology initiatives to drive better care, expanded access and lower costs. Under a strategic agreement announced October 5, 2011 Verizon Connected Healthcare Solutions, the company's health care practice group, and Duke will combine technical resources and personnel to focus on projects that leverage the inherent value of advanced communications technologies. Among the initial potential projects are mobile health applications and consumer health care education. Verizon will provide the computing infrastructure to perform analytical processing and modeling, as well as implementation and operational staffing and resources required for technical development. Duke University will provide personnel including students, research and project management experts, and educational program development staff, as well as intellectual property and other research required for use in program-sponsored initiatives. Full Article
BUYOUTS-Miami entrepreneur seeks $250 mln for debut cybersecurity
NEW YORK, May 15 (Reuters-BUYOUTS) - Miami-based entrepreneur Manuel "Manny" Medina of Medina Capital has lined up an estimated $50 million from family and friends as part of an effort to raise $250 million for a debut private equity fund, a source said. It has been about two years since Medina sold his information technology company Terremark Worldwide to Verizon Communications Inc. in a deal valued at $2 billion.
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