MobilePro to Acquire Clearwave

MobilePro has entered into a letter of intent to acquire Clearwave Communications, LLC

June 26, 2006

2 Min Read

BETHESDA, Md. -- MobilePro Corp. (OTC Bulletin Board: MOBL) announced today that it has entered into a letter of intent to acquire Clearwave Communications, LLC, a facilities-based competitive local exchange carrier (CLEC) headquartered in Harrisburg, Ill., offering voice and data services in Southern Illinois. The proposed terms of the transaction were not disclosed, and the transaction is subject to regulatory approval and the final negotiation and execution of definitive agreements.

Jay Wright, chairman and CEO of MobilePro, said, "We expect Clearwave to be a solid addition to MobilePro and our existing operations. Not only do we expect the deal to be accretive to our earnings after complete integration, but we believe we are adding some excellent management talent with deep industry experience. Clearwave also brings a group of private investors led by Bob Kelley, chairman of Clearwave, who understands and supports the MobilePro opportunity to become a national presence in the growing Wi-Fi and Wi-Max markets."

Jerry Sullivan, president and chief operating officer of MobilePro, said, "The proposed transaction with Clearwave further complements the existing retail and commercial CLEC divisions of MobilePro. In addition to growing the MobilePro customer base and giving us the ability to offer our existing product lines to these customers, the transaction brings to the company a skilled senior management team. Clearwave President Scott Riggs and COO Ray Cagle are long-term veterans of the telecommunications industry. Scott and Ray were part of my original management team at Mercury Communications and Tritel PCS dating back to the '90s. I am excited to have Scott and Ray rejoin our team and be a part of our continued success in our CLEC business as well as our wireless division."

Clearwave President Scott Riggs said, "We look forward to working with Jay and Jerry as we bring MobilePro's national reach and resources to Clearwave's current and prospective customers. We are looking forward to offering MobilePro's cellular, Wi-Fi and other value-added products to customers in all our markets."

MobilePro Corp.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like