LOUISVILLE, Ky.-U.S. Wireless Online and Air2Lan have entered an agreement to merge. The companies said the transaction will create one of the largest wireless Internet broadband companies in the nation.
As part of the deal, Air2Lan will receive restricted shares of US Wireless Online Preferred Stock in exchange for its assets, liabilities and customer base. The companies plan to close the transaction on or before Feb. 28.
The combined company will serve corporate, municipal, government and institutional customers and is expected to generate $5 million in annual revenues.
Jai Bhagat, co-founder and former vice chairman and chief executive officer of SkyTel Communications Inc. and chairman and founder of Air2Lan, will become executive chairman of the board of US Wireless Online. Rick E. Hughes, current CEO of US Wireless Online, will remain as a director and CEO of the company, and Mark E. Rodgers, current CEO of Air2Lan, will become president and join the US Wireless Online board of directors.
