Microsoft, Nextel Make Web Deal
May. 10, 1999
REDMOND, Wash. (AP) _ Wireless phone giant Nextel has an agreement with Microsoft to provide mobile Internet access. Microsoft is buying $600 million worth of Nextel stock, at 36 dollars a share.
Nextel plans to use the money to fund development of digital services, and to accelerate deployment of its wireless Internet services.
Nextel says customers will be able to use their phones to access the new services later this year. Nextel customers will also be able to use personal digital assistants, palmtop computers and other devices in connecting to the Microsoft Network portal.
Nextel closed at 36 3/8 on Friday.