MobilePro Corp., a wireless broadband provider that is especially active in municipal Wi-Fi deployments, said today it plans to acquire Mississippi-based Kite Networks Inc., a fixed-wireless broadband operator.
MobilePro, which soon will offer wholesale VoIP services, said it will buy 100 percent of privately held Kite Networks stock, as well as the remaining 49 percent of Kite Broadband LLC that it does not already own.
MobilePro expects the transaction to close within 30 days, but would not disclose the deals terms.
“Jerry Sullivan and his team have a spectacular track record as wireless networks operators and of generating compelling investment returns for their financial sponsors,” said Jay Wright, chairman and CEO of MobilePro. Sullivan is CEO of Kite Networks and Kite Broadband, and will assume the role of CEO of NeoReach Inc., a MobilePro subsidiary, if the acquisition goes through. He also would service on the MobilePro board of directors.
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January 17 2019 @ 18:50:04 UTC