Craig Wireless completes New Zealand spectrum purchase

RANCHO MIRAGE, CA - Craig Wireless has completed the purchase of certain secured advances owed by Woosh Wireless Ltd. in New Zealand. The USD$5.5 million deal, originally announced in September, includes the secured advances, shares and spectrum rights of the wireless Internet provider. Closing on the remaining spectrum rights held by Woosh is expected to occur at a later date in accordance with the agreement between the parties, Craig said in the announcement. www.craigwireless.com