Short Take: Vulcan Ventures completes Metricom stock acquisition

Metricom, a provider of wide-area, portable wireless data services, has announced that Vulcan Ventures, the investment organization of Microsoft cofounder Paul Allen, has completed its purchase of 4.65 million shares of Metricom common stock. The $55.8 million transaction raises Vulcan's interest in Metricom to 49.5 percent. Metricom also has announced the resignation of its president, Donald F. Wood, who will be joining Vanguard Venture Partners as a general partner.

Feb. 2, 1998 11:05 a.m. PT

, a provider of wide-area, portable wireless data services, has announced that Vulcan Ventures, the investment organization of Microsoft cofounder Paul Allen, has completed its purchase of 4.65 million shares of Metricom common stock. The $55.8 million transaction raises Vulcan's interest in Metricom to 49.5 percent. Metricom also has announced the resignation of its president, Donald F. Wood, who will be joining Vanguard Venture Partners as a general partner.