One dollar is the amount Geologic Solutions is paying for Motient's legacy wireless data business that includes its narrowband terrestrial DataTac wireless data network and its IMotient Solutions platform. Geologic's parent, Logo Acquisition, agreed to assume most of the post-closing liabilities related to Motient's business, hence the $1 price tag. Motient said the transaction will save it $15 million to $18 million in total future operating costs. Formerly known as Ardis, the legacy data network has been around for 30 years, but subsequently became obsolete when mobile operators began offering higher data speeds. Last year, Motient announced it shut down the rural sections of its network, reducing its coverage from 200 million people to 137 million.
For more about Motient's sale of its wireless data business:
- read this article from RCR Wireless News