Published:
Velocita Wireless Agrees to Acquire Skytel From Bell Industries For $8.0 Million
WOODBRIDGE, N.J., March 31 /PRNewswire/ -- Velocita Wireless, a leading
supplier of network data services for machine-to-machine (M2M) solutions,
announced today that it has entered into a definitive agreement to purchase
SkyTel from Bell Industries for a total consideration of $8.0 million. The
closing of the acquisition, which is expected to occur in 60 to 90 days, is
conditional upon certain customary closing conditions, including receiving
regulatory approval for the transfer of SkyTel's wireless licenses.
Velocita Wireless operates a nationwide Mobitex(TM) wireless data network
covering 93% of the U.S. business population that offers machine-to-machine
(M2M) data communication solutions, including AVL/telematics, point-of-sale,
location-based services and telemetry to the transportation, retail, security
and energy markets.
SkyTel, from its headquarters in Clinton, MS, operates a nationwide
network that offers data and messaging solutions, including M2M telemetry,
two-way messaging and traditional text and numeric paging, to business and
government customers.
"The M2M market is projected to be one of the fastest growing sectors of
the telecom industry over the coming 10 years," said Mark Hull, CEO of
Velocita Wireless. "Increasing energy costs and the continuing need for
enterprises to improve efficiency and productivity are combining to drive
broad adoption of wireless M2M solutions. This acquisition enables Velocita
to better serve existing customers and to provide the US market as a whole
with comprehensive M2M and messaging solutions that offer high reliability,
availability and security" added Hull.
About Velocita Wireless LLC
Velocita Wireless is a subsidiary of United Wireless Holdings, Inc., which
purchased the company from Sprint Nextel in June 2007. The company offers
wireless data machine-to-machine (M2M) solutions, including AVL, telematics,
point-of-sale, security and telemetry applications. Its Mobitex(TM) wireless
network operates in 48 states covering 93 percent of all U.S. businesses and
more than 220 million people. Velocita is a national wireless mobile network
operator focused on the M2M market. Its national network was previously known
as Cingular Interactive and BellSouth Wireless Data.
For more information, go to: www.velocitawireless.com.
About SkyTel
SkyTel provides nationwide wireless data and messaging services, including
wireless telemetry services and traditional text and numeric paging. Founded
in 1988, SkyTel is headquartered in Clinton, MS and provides services and
support to its customers, who are primarily in the business and government
sectors.
For more information, go to: www.skyTel.com.
SOURCE Velocita Wireless
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