WisperTel Closes a $2 Million Investment Round
Posted on: Wednesday, 21 June 2006, 00:00 CDT
DENVER, June 20 /PRNewswire/ -- Wisper Telecommunications, Inc. (d/b/a WisperTel), one of the leading wireless broadband providers in the United States, today announced it has closed its latest round of financing with $2 million in cash and stock from a Private Denver Investment Group. WisperTel will use the proceeds to better serve its subscribers, expand its service area and continue to build its leadership position in the wireless marketplace. This equity investment is in addition to a $700,000 credit facility from Silicon Valley Bank, which WisperTel announced in April of this year.
"This is a critical time in the evolution of the wireless broadband market and the proceeds of this round will help us reach our goal of becoming the one of the leading national wireless broadband companies," said Barry Pier, President and CEO of WisperTel. Pier added, "We plan to use the proceeds of this round and our relationship with our new investors to further differentiate WisperTel from the competition with superior customer support and to aggressively grow our business both organically and through targeted acquisitions. The initial focus of our acquisitions will be in selected regions in central and western Colorado. We are pleased to have local investors who are experienced in wireless broadband join us as their interest validates our view that WisperTel is taking the lead in a market space with tremendous growth potential." The market research firm IDC expects spending on wireless data services will likely increase from $8.8 billion in 2005 to $27.7 billion in 2009.
About WisperTel
WisperTel was formed in October 2001 to provide broadband Internet access and value-added services to under-served bedroom communities, initially in the West and Southwest Denver metropolitan areas. WisperTel offers both residential and commercial services, starting with 1 Mb/s symmetrical Internet service at $29.95 per month and feature-rich VoIP e-phone service with unlimited North American long distance for $19.95 per month. After over four years of steady growth and three acquisitions, WisperTel today covers in excess of 1,500 square miles around Denver, serving over 3,000 customers. According to one national survey (Broadband Wireless Business, September/October 2005), WisperTel is the one of the largest Broadband Wireless Operators in the U.S. For additional information, visit WisperTel's website at http://www.wispertel.com/.
FOR FURTHER INFORMATION, PLEASE CONTACT: Barry Pier -- WisperTel 1396 Gold Mine Lane Evergreen, CO 80439 Phone: 303.670.8400, x100 E-mail: BRPier@WisperTel.com
Wisper Telecommunications, Inc.
CONTACT: Barry Pier of WisperTel, +1-303-670-8400 ext. 100,BRPier@WisperTel.com
Web site: http://www.wispertel.com/
Source: PRNewswire
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