RESTON, Va. and CINCINNATI, Aug. 4, 2011 /PRNewswire/ -- LightSquared™, the nation's first wholesale-only integrated 4G-LTE wireless broadband and satellite network, and PowerNet Global, a leading nationwide provider of integrated telecommunications services, today announced that they have entered into a multi-year wholesale agreement.
Under this agreement, PowerNet Global will become a wholesale customer on LightSquared's 4G-LTE network and will develop its own branded voice and high-speed mobile data services for its business and residential customers. This partnership represents a major step towards making the latest generation of mobile services available to PowerNet Global's growing customer base throughout the United States.
"The partnership with LightSquared helps fulfill our goal of delivering an expanding array of advanced communications services to our customers across the country," said Bernie Stevens, president and chief executive officer of PowerNet Global. "LightSquared's nationwide network and wholesale business model give us the opportunity to deepen our existing customer relationships and expand into new markets."
"We are very pleased to provide PowerNet Global with access to LightSquared's best-in-class wireless broadband network," said Sanjiv Ahuja, chairman and chief executive officer of LightSquared. "This agreement reaffirms LightSquared's commitment to enable established service providers, such as PowerNet Global, to include competitive wireless offerings in the services they provide to their customers."
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.
About PowerNet Global
A leader in the telecommunications industry for nearly two decades and a multi-award winning company, communications provider PowerNet Global (www.powernetglobal.com) provides voice, data, SIP, and managed solutions to commercial and residential customers nationwide. Headquartered in Cincinnati, OH, PowerNet Global has achieved consistent growth by developing and marketing an expanding array of competitive products and maintaining a clear focus on delivering unrivaled service to its partners and customers.
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.
Tel: +1 (866) 528-8255
Burson-Marsteller for LightSquared
Tel: +1 (212) 614-4558