RUSHVILLE, Ind., Dec. 23, 2009 (GLOBE NEWSWIRE) -- Omnicity Corp (OTCBB:OMCY), the Midwest's largest fixed Wireless Internet Service Provider (WISP), has reached agreement on terms to acquire the assets of USPPP, Inc., a medium sized WISP based in Decatur, Indiana. USPPP is the second acquisition Omnicity has agreed to terms with this month and, once closed, will be the seventh acquisition brought into the Company since becoming public in February this year. "We look forward to welcoming the customers of USPPP into our growing Omnicity family and to developing the Decatur area market. The 34 towers and large service area of USPPP make it a perfect fit for us," commented Greg Jarman, CEO of Omnicity.
USPPP is the next in a series of scheduled acquisitions Omnicity expects to sign before January 31, 2010. Omnicity has more than doubled in its subscriber base during the past ten months since becoming public in February and revenue continues to grow at a rapid pace. The current acquisition schedule will double its subscriber base yet again upon closing of the acquisitions.
Omnicity's mission is to be the preeminent provider of rural telecommunications throughout the United States. This acquisition pushes Omnicity to over 240 tower locations. Greg Jarman added, "I am so excited to see the growth on both the acquisition front and through the growth of our direct sales efforts. It is very important to continue to provide lightly penetrated markets to our sales division to ramp up the return on that investment. To date, it is working exceptionally well and according to plan."
Omnicity will now be focusing on a number larger acquisitions that can carry the acquisition model out in their respective markets. David Bradford, COO, stated, "To date, we have focused solely on contiguous markets. Now is the time to reach out a little further and attract some businesses to carry the acquisition strategy out in other regions around the country."
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.
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.