LOS ANGELES-Roamer One Inc., a 220 MHz specialized mobile radio operator, will receive financing worth $7 million from Linear Modulation Technology Ltd. of Surrey, England.
Roamer One is wholly owned by Intek Diversified Corp. LMT is a wholly owned subsidiary of the Securicor Group, a delivery, security and telecommunications organization based in the United Kingdom.
LMT’s investment consists of a $3 million loan and a $4 million equity investment in Intek common shares. Proceeds will be used for the purchase of Securicor base station repeater equipment and subscriber radio equipment for the Roamer One network.
The equity investment by LMT is conditional upon executing a merger agreement between Intek and Simmonds Communications Ltd. Intek announced in March its intent to acquire the wireless business of Simmonds, a Toronto-based electronics company. The Simmonds businesses to be acquired include SCL Systems, Midland International Corp. and Midland Europe Ltd. The transaction is expected to close later this year.
SCL Systems provided the design, construction and engineering support for building the radio systems infrastructure for Roamer One’s network.
“Through our supply agreements with LMT and SCL, Roamer One will have the equipment and engineering expertise to build out a nationwide SMR network with super-regional and inter-system roaming capability,” said Dave Neibert, president of Roamer One. The company manages 2,250 channels under the contract.
