RUSHVILLE, Ind., June 8, 2009 (GLOBE NEWSWIRE) -- Omnicity Corp (OTCBB:OMCY) is pleased to announce the engagement of Bowen Advisors from Boston, Massachusetts to lead it through a secondary equity offering. Bowen has been retained to raise up to $10 million in staged financings over a period of time to fund Omnicity's growth plan. Greg Jarman, COO of Omnicity, stated, "In a very short period of time, we have been able to capture significant market share and prove out our acquisition strategy, and the execution is going well. Engaging a firm the caliber of Bowen to help financially ramp up the acquisition pace, the organic growth program, and to expand into additional product lines was the next step in our plan."
Omnicity also announced today the signing of Letters of Intent to acquire two more Indiana wireless Internet providers. Clinton County Wireless will be acquired in a stock for assets transaction. This acquisition strategically completes the coverage areas between Omnicity and three earlier acquisitions ForePoint Networks, North Central Communications and NDWave. Omnicity also is acquiring the assets of Rushville Wireless, LLC in an all stock deal that gives Omnicity a dominant role in the East Central Indiana area as the premier provider of broadband Internet services. One of the owners of Rushville Wireless, LLC, Tom Tully, added, "I see the bright future in the business model that Omnicity is doing and I chose to take all stock for my portion of the ownership of Rushville Wireless." The addition of these two companies shows further confidence that Wireless Internet Providers are looking for leadership from Omnicity to be the key consolidator of rural broadband providers across the United States.
About Omnicity:
Our vision is to be the first broadband service provider to expand its network across rural America
Omnicity Corp (OTCBB:OMCY) is providing broadband access, including advanced services of voice, video and data, in un-served and underserved small and rural markets. Omnicity's mission is to be the premier consolidator of rural market broadband nationwide. Omnicity's strategy is to provide a total broadband solution and continue rapid growth through acquisitions, organic growth and continue to partner with Rural Electric Membership Co-ops and Rural Telephone Companies. Omnicity has an experienced broadband operations team with extensive wireless broadband/ISP expertise as well as the expertise to consolidate large numbers of businesses through its roll-up strategy.
About Bowen Advisors:
Bowen Advisors, Inc. is a Boston based mergers and acquisitions and strategic advisory firm for emerging and established communications technology companies in the enterprise, service provider, government and defense market sectors. Bowen provides a full suite of advisory services including buyside and sellside M&A, private capital raising, fairness opinions and valuation analysis.