US Wireless Online merges with Air2Lan
Wireless broadband providers Air2Lan and US Wireless Online announced today their pending merger, a transaction expected to close on or before Feb. 28. According to the terms of the agreement, Air2Lan will receive restricted shares of US Wireless Online stock in exchange for its assets, liabilities and customer base.
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The combined company, which will operate under the US Wireless Online brand, will generate about $5 million in annual revenue and serve a customer base comprised mostly of corporate, government and institutional accounts. Both Air2Lan and US Wireless Online deliver broadband Internet access, voice over IP, Wi-Fi and security systems designed for homeland security, transportation and video surveillance applications.
Upon completion of the deal, US Wireless Online CEO Rick Hughes will remain as a director and CEO of the company, while Air2Lan CEO Mark Rodgers will become president and join the US Wireless Online Board of Directors. Air2Lan chairman and founder Jai Bhagat will become executive chairman of the board of US Wireless Online.
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