RESTON, Va. and NEWPORT BEACH, Calif., Sept. 26, 2011 /PRNewswire/ -- LightSquared™, a wholesale carrier building a nationwide wireless broadband network that will create consumer choice and drive industry innovation, has signed a wholesale agreement with AirTouch® Communications (OTCBB: ATCH), which develops telecommunications products that can converge various services including voice, data, video and even traditional landline.
Using the LightSquared network, AirTouch will offer its own branded wireless connectivity, opening up an important new revenue stream for the company. Consumers and businesses who purchase AirTouch products can now conveniently sign up for accompanying AirTouch wireless connectivity for those devices. AirTouch will also offer its devices through LightSquared's other wholesale partners.
AirTouch has a rich history of providing next generation high-performance, consumer friendly cellular cordless telephone technology and wireless signal amplification products to businesses and consumers. These include its cell@home, HomeConnex, UFO and FocalPoint products which are and will be sold through various channels.
LightSquared has now signed 15 partner agreements with companies that are eager to develop innovative mobile services, devices and applications on LightSquared's open network. AirTouch represents the first device manufacturer that will sell wireless connectivity over LightSquared's network combined with its communications devices.
"With LightSquared's wholesale-only business model, we can not only provide wireless connectivity to existing customers, but we are now able to tap new revenue streams while generating additional value for our customers and shareholders," said Hide Kanakubo, CEO, AirTouch. "This agreement will help us energize our business model to deliver a much broader range of innovative new products and services."
"We're proud to add AirTouch to our increasingly diverse partner portfolio," said Sanjiv Ahuja, chairman and chief executive officer of LightSquared. "In addition to cellular voice and data products, AirTouch can now add a new source of revenue by delivering a bundled wireless offering to their customers. This represents the true spirit of LightSquared's wholesale-only business model, and we look forward to AirTouch using our network to develop next-generation products and services, and forge new strategic alliances."
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 AirTouch Communications
AirTouch Communications, Inc. (OTCBB: ATCH), is engaged in the development and marketing of patented telecommunications devices capable of converging multiple services and applications such as voice, data, WiFi bridging, video, security and entertainment into one hardware platform. AirTouch holds several patents that enable its products to enhance cellular signals within the home and office.
For more information, please go to http://www.airtouchinc.com.
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.