Omnicity, a fixed wireless internet service provider, has agreed to purchase the assets of AAA Wireless. The assets to be purchased include, a large network estimated to have a footprint in excess of 80,000 homes with 39 towers.
Omnicity said that this acquisition will increase its reach to its target rural residential market by over 30%. The AAA network was established to service schools, businesses and residences located in the northern half of Indiana. In 2008, the AAA Wireless network serviced over 190 schools generating in excess of $5m in revenue.
Omnicity has more than doubled its subscriber base and revenue over the past six months after becoming a public company in February 2009 and the company said that it is on track with acquisitions including AAA Wireless, to more than double its size again within the next six months.
Greg Jarman, CEO of Omnicity, said: We are very pleased to have reached formal agreement to purchase these assets. The large number of homes, the high quality of the network, and the opportunity to re-establish valuable internet service to the schools, as well as introduce our services to residents and businesses in the area, make this a great event for North Central Indiana residents, business owners, school children, and for Omnicity and our shareholders.
