Mobilitie Gets $1B for 5G From Unnamed 'Foreign Investment Fund'
NEWPORT BEACH, Calif. -- Mobilitie today announced a $1B exclusive arrangement with a foreign investment fund to fuel the next five years of growth around 5G infrastructure. The partnership represents a tremendous opportunity for the company to speed both U.S. and international 5G growth and expansion and bring unprecedented connectivity to consumers.
Christos Karmis, President and CEO of Mobilitie, stated, "We're excited about the opportunity and all it will enable us to do for wireless carriers. The billion-dollar opportunity will fuel infrastructure development needed for convergence of networks, such as Wi-Fi, 5G, CBRS, IoT, mmWave, and small cells. This means fast, reliable connectivity across the globe, including currently in underserved areas and supporting massive connectivity in large indoor and outdoor public venues."
5G is anticipated to transform and advance industries like real estate, health care, transportation, and entertainment. The coming 5G evolution is predicted to be a $12 trillion industry. Building the infrastructure and creating the devices to get there means the next five to ten years will be the largest period of investment that wireless carriers in the U.S. have ever experienced.