T-Mobile, Sprint ready board committees to decide on merger: sources

(Reuters) – T-Mobile US Inc and Sprint Corp are laying the groundwork for special committees of their board of directors to decide on a merger between the third and fourth largest U.S. wireless carriers, according to people familiar with the matter.

FILE PHOTO: Smartphones with the logos of T-Mobile and Sprint are seen in this illustration taken September 19, 2017. REUTERS/Dado Ruvic/Illustration/File Photo

These board committees are important for the merger because T-Mobile and Sprint are majority owned by Germany’s Deutsche Telekom AG and Japan’s SoftBank Group Corp respectively, and could be left vulnerable to potential lawsuits from minority shareholders if they don’t establish independent mechanisms to review the deal.

Both T-Mobile and Sprint have formed committees comprising independent board directors to decide on whether the deal should be signed once the merger agreement has been finalized, which is currently expected in the next three weeks, the sources said.

The companies’ special board committees have also hired financial advisers to help them deliver fairness opinions, the sources added.

As with many all-stock mergers, T-Mobile and Sprint have decided there is no need to give their minority shareholders a vote on the deal, the sources said.

An alternative would have been to make the merger subject to approval by a majority of their minority shareholders. However, the companies’ advisers have determined this is not legally necessary, and could even jeopardize the deal were minority shareholders to organize against it, according to the sources.

Some T-Mobile minority shareholders believe Sprint should not be offered any premium for its shares, the sources said. However, T-Mobile and Sprint have tentatively agreed on a range for a stock exchange ratio which, even at its low end, would offer Sprint a modest premium to where its shares are trading currently, the sources added.

This could result in SoftBank and other Sprint shareholders holding close to 40 percent of the combined company based on where the shares are currently trading, the sources added. The exact share exchange ratio will be determined by looking at the volume-weighted average stock price of the companies over the last few months, one of the sources added.

T-Mobile’s and Sprint’s due diligence on each other is almost complete, and much of their focus now is on working out a business plan for the combined company, as well as an integration strategy, according to the sources.

Sprint and T-Mobile declined to comment, while Deutsche Telekom and SoftBank did not immediately respond to requests for comment. The sources asked not to be identified because the negotiations are confidential.

Reporting by Liana B. Baker in New York; Editing by Muralikumar Anantharaman

Our Standards:The Thomson Reuters Trust Principles.


Dropbox enhances its productivity tools across the board

Dropbox just dumped a ton of new productivity features on users of its file storage and collaboration service that are all aimed at making it easier for people to get work done within its applications. 

Updates to the Dropbox app for iOS allow users to scan documents directly into the cloud storage service, and get started with creating Microsoft Office files from that app as well. The company also increased the ease and security of sharing files through Dropbox, and made it easier to preview and comment on files shared through the service.

These launches mean that Dropbox will be more valuable to people as a productivity service, and not just a folder to hold files. It’s especially important as the company tries to capture the interest of business users, who have a wide variety of competing storage services they could subscribe to instead. 

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InfoWorld Cloud Computing

NextServices Welcomes Sudhir Bahl to its Advisory Board For Global Opportunities

Sudhir Bahl brings with him a wealth of leadership experience in healthcare technology from various organizations such as Irene Healthcare, Nova Specialty Surgery, ICICI Venture, Apollo Hospitals, and GE Healthcare. During the past five years, Sudhir has served on boards of six healthcare companies and worked with senior management to pursue growth opportunities.

“We are delighted to welcome Sudhir to NextServices,” said Satish Malnaik, CEO of NextServices. “Healthcare challenges in the Middle East and North African (MENA) regions increasingly resemble those in the US. Our solutions make it easier for healthcare organizations to thrive in complex environments. Sudhir’s rich experience in healthcare domain and the MENA region bring great value to our team as as we expand our healthcare solutions to address global opportunities.”

“I believe, great teams make great companies. I enjoy working with innovative product teams and growth oriented companies. Pleased to be associated with NextServices founders and the team,” said Sudhir Bahl.


Sudhir Bahl has over twenty three years of senior management and entrepreneurial experience in healthcare, and is passionate about creating innovative and sustainable businesses. Currently based in Dubai, Sudhir works as Managing Director for MENA region for Bourn Hall Clinic and resides on the Board of Directors at Bourn Hall International. He has co-founded and resided as the CEO of Irene Healthcare in 2011. He was also part of the senior management team as President and COO at Nova Specialty Surgery – a chain of day surgical and IVF centers with operations in India and Middle East, and as founder Director and COO of IVEN Medicare India Limited, an ICICI Venture portfolio company. From 2004 to 2007, Sudhir worked as Vice-President for Apollo Hospitals Enterprise Limited. He was part of the senior team leading international projects and consulting business with focus on the Middle East and KSA markets. Sudhir has been a part of GE Healthcare and has played a significant role in handling key accounts and Healthcare IT initiatives. He is an electronics engineer with an MBA in International Business Management.


NextServices is changing how healthcare is delivered through better management and advanced technology. Services and solutions include:

Revenue Cycle Management: Comprehensive services that help hospitals, surgery centers and medical practices get paid quickly and accurately from insurance companies.
enki EHR: A cloud/mobile based electronic health record (EHR) software platform to digitize, store and share patient records securely.
Health IT: Software design and development to help healthcare product teams build their next big idea.

About NextServices

NextServices provides cloud based revenue cycle, mobile electronic health management and consulting solutions for healthcare organizations across the world. Bringing an innovative approach to combining technology and services, NextServices offers a seamlessly integrated platform of web based and mobile software. For more information contact 1(866) DOC-NEXT or visit the company’s website at http://www.nextservices.com.

Dr. Glenn D. Steele Jr. Joins Stratus Video Interpreting Board of Directors

Clearwater, FL (PRWEB) June 17, 2015

After announcing his retirement from Geisinger Health System Foundation, Dr. Glenn D. Steele, Jr. has joined the board of directors for video remote interpreting company Stratus Video Interpreting. Dr. Steele’s expertise in the healthcare industry will help Stratus Video Interpreting in their mission to give a voice to the voiceless by allowing healthcare systems nationwide to communicate with patients regardless of language through their technologically advanced platform.

This June, Dr. Steele will be retiring from his current position as president and CEO of Geisinger Health System Foundation, a Pennsylvania based, physician-led integrated health services organization. He will remain as chairman of xG Health Solutions, a spinoff from Geisinger Joint Ventures with a $ 40 million investment from Oak Investment Partners. During his 14-year tenure, Dr. Steele helped make Geisinger an industry leader in patient safety, care quality, and value. Geisinger is nationally recognized for its innovative use of electronic health record and the development and implementation of innovative care models.

Dr. Steele has been named consecutive times to Modern Healthcare’s 50 Most Powerful Physician Executives in Healthcare, and has also been featured as one of the “100 Most Powerful People in Healthcare.” Additionally, Dr. Steele was listed among Becker’s Hospital Review’s 100 Non-Profit Hospital, Health System CEOs to Know List in 2012. Dr. Steele is a recipient of numerous awards including the CEO IT Achievement Award (2006); AHA’s Grassroots Champion Award (2007); 8th Annual (2010) AHA Health Research & Education Trust Award and HFMA Board of Directors’ Award (2011).

In addition to sitting on the board of directors for Stratus Video Interpreting, Dr. Steele also serves on numerous boards and national committees. He was recently appointed to the Committee on the Governance and Financing of Graduate Medical Education. A member of the Institute of Medicine of the National Academy of Sciences, Dr. Steele serves as a member on the Roundtable on Value and Science-driven Healthcare and also sat on the Committee on Reviewing Evidence to Identify Highly Effective Clinical Services (HECS), and is a former chairman of the American Board of Surgery. A fellow of the American College of Surgeons, Dr. Steele is a member of the American Surgical Association, the American Society of Clinical Oncology, and past president of the Society of Surgical Oncology.

Dr. Steele has had a long and distinguished career in academia. Prior to serving as President and CEO to Geisinger, Dr. Steele held the position of Dean of the Biological Sciences Division at the Pritzker School of Medicine and additionally served as the Vice President for medical affairs at the University of Chicago and as the Richard T. Crane Professor in the Department of Surgery and the William V. McDermott Professor of Surgery at Harvard Medical School.

“Dr. Steele, with his distinguished background and experience, will bring a lot to Stratus,” says President of Stratus Video Interpreting David Fetterolf. “His strength and expertise will help Stratus provide better care to those who need it.”

A prolific writer, Dr. Steele is the author or co-author of more than 481 scientific and professional articles. His investigations have focused on the cell biology of gastrointestinal cancer and pre-cancer and most recently on innovations in healthcare delivery and financing.

“No person should be hindered in receiving medical care because they ‘don’t speak the right language’” says Dr. Steele. “The communication barrier has long been a problem in our industry, and it will be rewarding to help remedy the situation by serving on the board of directors for Stratus.”

Dr. Steele’s appointment will help Stratus Video Interpreting in its effort to provide the information, comfort, advocacy and support to allow people from different cultures to connect in a simple, immediate way. Stratus offers Video Remote Interpreting (VRI) services by providing users with a language or ASL interpreter over a videophone call, Stratus marries the benefits of face-to-face interpretation with the on-demand nature of over the phone interpretation (OPI). A standard VRI situation, the two parties are able to use a videophone device (e.g. webcam, tablet, smartphone) to place a call to an interpreter who is then able to assist the two parties overcome the language barrier.

Stratus Video Interpreting sprang from the recognized need for better communication between cultures and languages, particularly in specific markets, such as healthcare and the courts, where a lack of understanding can create significant problems for people. Stratus allows healthcare systems nationwide to avail themselves of VRI technology in order to ensure that every patient’s needs are heard – regardless of what language they speak.

About Stratus Video Interpreting:

Stratus Video Interpreting provides on-demand interpreter services by using technology to connect clients with interpreters in over 175 spoken and signed languages in less than 30 seconds. Stratus’ cloud-based video solution delivers an array of unique features to virtually any Internet-enabled PC, Mac, smartphone or tablet. Stratus clients use the technology to connect with their own staff interpreters, as well as with Stratus interpreters, who have years of healthcare and courtroom experience and hold multiple certifications. With Stratus, state-of-the-art video remote interpreting is made available with virtually no capital investment. Stratus averages 65,000 video calls a day, up from 40,000 in mid-2013. Stratus Video is the sister company of The Z® (CSDVRS, LLC, dba ZVRS), which was established in 2006 and developed by and for deaf and hard-of-hearing individuals, setting the industry standard as the nation’s premier Video Relay Service Provider and the first VRS Provider to receive a 5-Year certification from the FCC. In 2014, Stratus was recognized as one of the fastest-growing privately held companies, ranking #3,827 on Inc. magazine’s Inc. 5000 list. For more information, visit http://www.stratusvideo.com.

The Reverse Merger Report – OTCBB

Private Placement Memorandums and Direct Public Offerings, the most common mistakes made. When gearing up to raise capital it is typically a business owners first instinct to simply throw together a business plan and find the cheapest company to put together the private placement memorandum and then seek funding. What these professionals don’t realize is that they are doing things in reverse and often times a PPM is not a standalone solution to financial needs.

The first problem is the most companies will first write a business plan and cheap PPM and look for a capital solutions last, when strategically speaking, one should first find a full service solution who has a database of investors ready to fund properly structured corporations with well authored business plans and private placement memos. After you find a company that has a ready network of seasoned investors you will often find that this firm will also structure your business and documents so that you are able to attract the attention of these investors. Next, don’t make the mistake of hiring just anybody to write your biz plan. You need to find a professional author who is well rooted in the art of technical writing and has a solid comprehension of your industry.

Now it’s time to write the PPM. Here is a warning that will most likely go in one ear and out the other but you must never choose the cheapest service for your PPM you will regret it and this is a guarantee. Investors see these documents all day everyday and they know a template when they see it. Don’t believe for a second that you will get a viable private placement memo that will actually achieve funding for anything less than $3,000; it’s just not going to happen. There is too much work involved in putting a fund-able strategy together and you’ll never find an experienced firm to do it for cheap.

The moral of the story is to first find an investor finder solution with a solid network of investors, second have this company write your business plan and private placement memorandum to fit the needs of their investor base and lastly, talk to this consultant about helping you perform a DPO (Direct Public Offering) to their group. This is what separates the men from the boys in the venture capital consulting industry.

Legitimate consultants who stand behind their work will take your PPM directly to their investor base and help you raise capital quickly. In return for this service the company may want a modest equity position in addition to their fee but it is always worth it and typically they will take the final step and have their investors pay to take your company public. This is the ultimate for any company that is seeking a long term funding solution.

Remember the order: 1. Find an investor finder 2. Have that company write your biz plan and PPM 3. Convince the firm to perform a DPO for fast funding 4. Offer some equity to sweeten the pot so that they take you public!

Find out how to globalize your business or You’re your Company Public , Find out how to Structure Your Company to grow fast and raise capital