NextWave To Acquire GO Networks

NextWave Wireless Inc. (Nasdaq: WAVEV) has agreed to acquire GO Networks Inc., a Mountain View, Calif.-based developer of mobile Wi-Fi network solutions for service providers looking to deploy on campuses and in municipalities. The deal includes an initial cash payment of $13.3 million, plus up to $25.7 million in possible earnouts that would be paid in NextWave common stock. NextWave also will assume around $7.46 million in existing GO Networks obligations. GO Networks raised a $20 million Series A round in late 2004 at a post-money valuation of approximately $40 million. Backers include Accel Partners, Apax Partners, Israel Seed Partners and Pitango Venture Capital.