GPS World

Tag: Nasdaq

  • NextNav goes public with Spartacus Acquisition Corp.

    NextNav goes public with Spartacus Acquisition Corp.

    NextNav logoGPS company NextNav and Spartacus Acquisition Corp, a special-purpose acquisition company, has entered into a definitive merger agreement that will result in NextNav becoming a public company. The combined company will be named NextNav Inc. Its common stock and warrants will be listed on the Nasdaq under the ticker symbol “NN” and “NNW”, respectively.

    Gross proceeds of up to $408 million from the business combination are expected to be used to fuel growth in its current businesses, continue to build NextNav’s next-generation GPS platform, expand products (one of which is already deployed in 4,400 cities), and to expand its land-based radio positioning and timing network.

    The NextNav platform serves a $100 billion global total addressable market in public safety, E911, mass-market consumer apps, eVTOLs, UAVs and autonomous vehicles, internet of things (IoT), critical infrastructure and other sectors. Beyond its technology and intellectual property, NextNav owns a portfolio of nationwide spectrum licenses for 2.4 billion MHz-PoPs of 900 MHz spectrum.

    Gary Parsons, former chairman of the board of Sirius XM Radio, has served as chairman of NextNav’s board of directors for the past 10 years and will continue in that role. Peter Aquino, chairman of the board and CEO of Spartacus, will also join the NextNav board upon closing of the business combination. Aquino has led several companies through fiber and wireless operations and network deployments, and the development of overlay technologies designed to drive new revenue streams.

    NextNav will continue to be led by Ganesh Pattabiraman, the company’s co-founder, CEO and president. Pattabiraman, who started at Qualcomm, has experience in building scalable location technologies using terrestrial and satellite-based technologies,

    In addition, the full NextNav management team — co-founder Arun Raghupathy, SVP of Engineering; Chris Gates, CFO; and David Knutson, SVP of Network Operations and Deployment — will continue to manage NextNav.

    Hogan Lovells is advising NextNav with corporate and finance partner Randy Segal and partners Adam Brown, John Duke, and Jessica Bisignano leading the team. Senior associates Michael Rogers and Liz Banks, and associate Chelsea Shrader assisted as well.

  • ViaLite distributed GPS systems chosen for NASDAQ

    ViaLite distributed GPS systems chosen for NASDAQ

    ViaLite has been asked to supply distributed GPS equipment for the NASDAQ stock exchange in New York for the first time.

    Photo: ViaLite
    Photo: ViaLite

    ViaLite’s Distributed GPS System is being used to feed mission-critical timing and synchronization signals over optical fiber to multiple S650 GPS referenced NTP time servers.

    Stock exchanges need to offer their clients the fastest possible trading speeds and, for this, their IT systems need to be provided with highly accurate timing signals, which can be obtained from GPS/GNSS satellite networks.

    The equipment Vialite supplied included GPS lossless distributed multi-port fiber-optic links, supplied in OEM format to meet NASDAQ’s requirements.

    “ViaLite was chosen for its performance attributes that are not readily available elsewhere in the RF over fiber market, as well as for its best in class quality, reliability and support,” said ViaLite director of sales, Craig Somach.

    For more information on RF over fiber for data centers, stock exchanges and more, visit www.vialite.com.

    Photo: Shutterstock.com/Eviart
    Photo: Shutterstock.com/Eviart

  • Nasdaq Offers Precision Time Service for Trading

    Nasdaq — the trading and exchange technology company — is launching a trade time-stamping service at its data center in Carteret, New Jersey, with access to a NIST-certified GPS antenna. The High Precision Time service is provided by Perseus, a provider of global high-speed connectivity, and enables Nasdaq customers to synchronize their time systems across a multitude of data centers.

    High Precision Time offers access to a National Institute of Standards and Technology (NIST)-certified GPS antenna as well as Network Time Protocol (NTP) and Precision Time Protocol (PTP) connectivity with nanosecond accuracy to the Coordinated Universal Time UTC (NIST) timescale. These NIST-certified options allow Nasdaq co-located clients at the Nasdaq data center in Carteret to synchronize their system clocks. This tool can be used as clients’ primary time service, or as a back-up for clients which already use Nasdaq’s shared GPS service or have their own dedicated GPS antenna.

    “The relationship with Nasdaq is an important step in helping our shared customers mitigate the risks of inaccurate time stamps when disseminating and trading on sensitive market information,” said Anthony Gerace, President, Global Financial Services at Perseus Telecom. “This is especially important for compliance and high-precision trading.”

    Nasdaq co-located clients can connect to High Precision Time services via a simple inter-cabinet cross-connect with:

    • Certified NIST GPS antenna access
    • Certified UTC (NIST) timescale accuracy and reporting
    • Choice of delivery protocols: NTP (Network Time Protocol) and PTP (Precision Time Protocol)

    “Our adoption of Perseus’ precision time service is another example of our commitment to provide member firms with technology solutions that reduce risk exposure,” said Stacie Swanstrom, Head of Global Access Services and senior vice president of Global Trading and Market Services at Nasdaq. “Transparency and choice is a hallmark of Nasdaq’s philosophy, which is why we continuously improve our Nasdaq Data Center environment while being mindful of the challenges and complexities of the markets.”