|
MediaG3 Finalizes Definitive Agreement on LOI to Secure Funding for Wireless Broadband Build-outs
Nov 16, 2011 (Close-Up Media via COMTEX) --
MediaG3, Inc., a provider of wireless broadband solutions, has completed the Letter Of Intent announced on Sept. 20, with Competitive Companies, Inc. through a definitive agreement known as "The Wytec Purchase Agreement."
According to a release, The Wytec Purchase Agreement will provide funding to MediaG3 through the purchase of Wytec International, Inc., owner of five U.S. "world class" patents directly involved in the development of carrier grade mobile broadband delivery. "This agreement combines MediaG3's knowledge and application of technology, 'proprietary' network design, engineering, software and deployment with CCI's experience in wireless technology, funding, management, back-office, customer and tech support," said CEO Val Westergard.
Westergard went on to say: "This agreement provides MediaG3 with funding, retains use of patented technology, restores shareholder confidence and sets the stage to grow revenue quickly as we deploy 'proprietary' networks throughout the USA. This agreement creates a complimentary and mutually beneficial infusion of talent and technology, bringing much greater potential value to both companies and their shareholders. We are excited about the supportive and inter-dependent relationship we now have with William Gray and his team at CCI."
MediaG3's network is on in selected areas in Boise and they expect to be offering 4G+ services to the public by February 1, 2012. Wireless Wisconsin expects to be offering the service in Eau Claire by March 1, 2012. Both operations plan to be utilizing "carrier grade" authentication software enabling full integration for most fixed and mobile devices. Thus both companies expect to have rapid revenue development within months instead of years.
More information:
www.mediag3.com
www.cci-us.com
((Comments on this story may be sent to newsdesk@closeupmedia.com))
[ Back To TMCnet.com's Homepage ]
|
TMCnet LOGIN
Webinars
