LightSquared and Skype Co-Founder's FreedomPop Partner to Offer Free Broadband Services
RESTON, Va. and LOS ANGELES, Dec. 8, 2011 /PRNewswire/ -- LightSquared™, a wholesale carrier building a nationwide wireless broadband network that will create consumer choice and drive industry innovation, and FreedomPop, a disruptive new company that will offer free broadband and voice services to all Americans, have signed a wholesale network agreement.
FreedomPop is spearheaded by Niklas Zennstrom, co-founder of Skype, and his venture capital firm Atomico. The company will launch in 2012 with its ultimate objective to ensure that every American has access to fast, free and convenient communication services. FreedomPop will initially target underserved markets.
"The Internet is a right, not a privilege," said Matt Ingrid, COO of FreedomPop. "With the economic efficiencies delivered by LightSquared's wholesale business model, we can achieve our objective to deliver flexible high-speed wireless access to anyone at a fraction of the cost and inconvenience seen in today's market."
As LightSquared's 4G-LTE network comes online starting in the second half of 2012, FreedomPop will use the company's world-class network to power its mobile broadband service and provide advanced wireless services to customers across the country.
Bringing connectivity to all Americans is a key tenet of LightSquared's vision. "FreedomPop represents the kind of disruptive service model that LightSquared is enabling, and shares our belief that broadband access is a right for everyone," said Sanjiv Ahuja, chairman and chief executive officer of LightSquared. "Our nationwide network will allow FreedomPop to make a profound impact by delivering affordable high-speed wireless access to underserved communities across the country."
LightSquared's mission is to revolutionize the U.S. wireless industry. With the creation of the first-ever, wholesale-only nationwide 4G-LTE network integrated with satellite coverage, LightSquared offers people the speed, value and reliability of universal connectivity, wherever they are in the United States. As a wholesale-only operator, LightSquared will deploy an open 4G wireless broadband network to be used by existing and new service providers to sell their own devices, applications and services – at a competitive cost and without retail competition from LightSquared. The deployment and operation of LightSquared's network represent more than $14 billion of private investment over the next eight years. For more information about LightSquared, please go to www.LightSquared.com, www.facebook.com/LightSquared and www.twitter.com/LightSquared.
Founded in 2011, FreedomPop is building a new wave telecom company. Its aim is to provide disruptive voice and internet services to all Americans and to ensure that no one is left off the "connected grid." FreedomPop's initial service will launch in 2012. Visit www.FreedomPop.com for more information.
Forward Looking Statement
This release contains forward-looking statements and information regarding LightSquared and its business. Such statements are based on the current expectations and certain assumptions of LightSquared's management and are, therefore, subject to certain risks and uncertainties. The forward-looking statements expressed herein relate only to information as of the date of this release. LightSquared has no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release, nor is there any assurance that the plans or strategies discussed in this release will not change.
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