DENVER, United States—Aerie Networks, a privately held broadband services company, acquired Metricom’s Ricochet wireless broadband network for US$8.25 million in cash.
The deal was awarded to Ricochet Networks, a newly formed subsidiary of Aerie, during bankruptcy court proceedings on 2 November. The sale is expected to be finalized this week.
Aerie said it plans to work in partnership with local communities and service providers in 17 markets initially deployed by Metricom. Mort Anderson, president and chief executive officer of Aerie, said Ricochet has a loyal customer base that wants its Ricochet service back.
“In order to bring it back, we will create partnerships to provide the service at a new lower price point than previously offered and make it available to millions of users where they buy other related products and services,” Anderson said.
