RUSHVILLE, Ind., Dec. 1, 2009 (GLOBE NEWSWIRE) -- Omnicity Corp. (OTCBB:OMCY), the Midwest's largest fixed Wireless Internet Service Provider, has agreed to purchase the assets of AAA Wireless, Inc. The assets to be purchased include a large, substantial network, estimated to have a footprint in excess of 80,000 homes with 39 towers. This acquisition will increase Omnicity's 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. Greg Jarman, CEO of Omnicity, commented on the deal, "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."
Rick Van Es, spokesperson for AAA Wireless, Inc., noted, "We are delighted to have reached an agreement to sell the assets to Omnicity. Our subscribers will continue to receive superior service provided by our robust wireless network and enjoy the benefits provided by Omnicity, a leading provider of broadband services."
Omnicity has more than doubled its subscriber base and revenue over the past six months after becoming a public company in February 2009 and is on track, with acquisitions including AAA Wireless to more than double its size again within the next six months.
About Omnicity:
Our vision is to be the first broadband service provider to expand its network across rural America
Omnicity Corp. is a public company based in Indiana providing broadband access, including advanced services of voice, video and data, in un-served and underserved small and rural markets and is planning 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 Rick Van Es:
Rick Van Es is Managing director of CrossRoads business Advisors LLC, a consulting firm located in South Bend, Indiana specializing in business brokerage, business turnarounds, financial restructuring, and services to lenders. Website: www.crossroadsbiz.com.
Forward-looking statements, made pursuant to safe harbor provisions of the PSLR Act of 1995, inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for changes after the date of this release.