Wireless News
02-08-2011
KeyOn Acquires Wireless Broadband Business from Wells Rural Electric Company
Type: News
KeyOn Communications Holdings, a provider of wireless broadband, satellite video and voice over Internet protocol services, announced it has completed its acquisition of substantially all of the wireless broadband assets of Wells Rural Electric Company.
In a release dated Feb. 3, the Company said the WREC acquisition has strategic importance to KeyOn as the network footprint covers markets such as Wells and West Wendover, Nevada. The network serving these communities will interconnect with KeyOn's planned network in rural Nevada funded by the American Recovery and Reinvestment Act's stimulus program. In September 2010, KeyOn received a $10.2 million stimulus award to provide 4G, last-mile wireless broadband access and VoIP services to approximately 93,000 people, 5,522 businesses and 849 critical community facilities throughout Nevada.
Jonathan Snyder, KeyOn's President and Chief Executive Officer, said, "The purchase of the wireless broadband business from Wells Rural Electric Company adds a well architected network with robust capacity and a stable subscriber base. As a result of our planned stimulus-funded network construction, the residents of the areas covered by WREC will be able to access up to 8 MBps speeds with our 4G wireless network and these communities will benefit from job opportunities and economic development."
WREC represents the eighth acquisition of network assets and subscribers since the inception of Rural UniFi in the fourth quarter of 2009 and is the Company's 12th acquisition overall. It is expected that this transaction will add positive operating cash flow in its first month of operations under KeyOn's ownership because of its assimilation into KeyOn's centralized network and customer operations center.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
Copyright 2011 Close-Up Media, Inc. All Rights Reserved.
n/a
No comments:
Post a Comment