[Advanced Radio Telecom to Acquire 14 Additional 39 GHz Licenses in Major Markets]
BELLEVUE, Wash.--(BUSINESS WIRE)--March 29, 2000--Advanced Radio Telecom Corp. (ART)), the first broadband wireless Internet Protocol Service Provider (IPSP), today announced it had entered into a definitive agreement with Bachow Communications, Inc. to acquire 39 GHz licenses including the Atlanta, Boston, Buffalo, Cincinnati, Indianapolis, Las Vegas, Los Angeles, Milwaukee, Portland, San Diego, Washington and Baltimore markets.
The 14 licenses to be acquired cover a population of approximately 37 million, bringing ART's U.S. license coverage to over 370 million channel pops.
"Increasing spectrum depth in our major markets enhances our growth strategy and strengthens ART's nationwide footprint which we are using to build next generation IP broadband wireless metropolitan networks," said Robert McCambridge, ART president and COO.
ART will issue approximately 2.2 million common shares as consideration for the licenses. The parties expect to close the transaction in the second half of the year. Closing is subject to various conditions, including FCC approval. |
