RUSHVILLE, Ind., Feb. 4, 2010 (GLOBE NEWSWIRE) -- Omnicity Corp (OTCBB:OMCY), the Midwest's largest fixed Wireless Internet Service Provider (WISP), has agreed with Lightspeed Wireless, DNS, Inc., of Berlin, Ohio, to purchase Lightspeed's central Ohio internet service operation. This asset purchase of Lightspeed's 41 towers and over 3800 predominantly wireless subscribers will be Omnicity's first cross border acquisition in the state of Ohio and is expected to serve as a cornerstone for Omnicity's growing presence in Ohio. This acquisition will push Omnicity's subscriber base over 10,000, an increase of more than 450% in 1 year since its public listing in February 2009. Greg Jarman, CEO of Omnicity commented on the signing of the LOI, "We were very impressed with the quality of Lightspeed's management and operations and see it as a great potential base for our larger aspirations in Ohio. It is a perfect example of the type of market and style of operation we plan to promote throughout Ohio, the Midwest, and beyond. We look forward to welcoming the customers of Lightspeed into our growing Omnicity family and working with Kyle Yoder and his staff to develop the larger central Ohio market."
Lightspeed is the first in a series of planned Ohio acquisitions and new-builds Omnicity expects to engage before the end of its fiscal year in July. Kyle Yoder, President of Lightspeed commented, "We at Lightspeed are eager to complete this transaction and participate in a major way in Omnicity's plan to bring broadband to the heartland of America. This is an exciting time for those of us who have made it our business to provide service to the underserved of rural American and it is great to join forces with a company like Omnicity that has the experience, track record, and expertise in fulfilling that mission."
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.