RuralCom to Operate under the TNW Wireless Brand and will Deploy iPCS Mobile Technology
VANCOUVER, Dec. 8, 2016 /CNW/ - Vancouver-based TNW Networks Corp's ("TNW") parent company, Investel Capital Corporation ("Investel") announced today that it has acquired all issued and outstanding shares of RuralCom Corporation ("RuralCom") from RuralCom Capital Corporation. RuralCom will now operate under the brand, TNW Wireless. The acquisition represents a significant step in TNW's corporate transformation since the acquisition of the assets of Navigata in 2012.
TNW Wireless will provide mobile service in northern regions in British Colombia and Yukon under RuralCom's Tier-2 850 MHz mobile licenses and will extend its service reach locally, nationally, and internationally via TNW's patent pending iPCS, Wi-Node technology and roaming partners. The existing RuralCom network infrastructure will be interconnected to TNW's comprehensive microwave, fiber and core backbone network.
"The acquisition of RuralCom is a key component for our launch of iPCS and our entry into the wireless market," said Sandeep Panesar, TNW's CEO. "iPCS represents the first major change in how wireless services offered in the last 20 years and this will change the Canadian wireless landscape by increasing competition and will result in lower prices for Canadian consumers".
The transaction is subject to regulatory approval by Industry Canada and the iPCS technology is expected to be integrated into the network by March 2017.
About Investel Capital Corporation
Investel Capital Corporation is an investment company specializing in the acquisition of telecommunications companies and development of new technologies. With offices in Toronto and Vancouver, Canada, it focuses on investing in the development of new technologies with their own R&D resource group and currently has a portfolio of patents files worldwide. It also invests in distressed or underachieving telecom companies that have recurring revenue but low profitability in order to gather efficiencies by folding them into their telecom portfolio. Investel's companies have access to its comprehensive network resources and infrastructures such as administration, engineering, customer support, network operations, amongst other things. In this way, redundant expenses such as operational and network costs are eliminated, thereby reducing overall costs and increasing revenue.
About TNW Networks
TNW Networks Corp is a national telecommunication service provider in Canada. The result of the consolidation and rebranding of some 12 entities since 2008, TNW is a wholly owned subsidiary of Investel Capital Corporation. TNW operates in three distinct product areas; fixed and wireless connectivity, data centers and cloud, and social media technology. The company has in excess of $350M in net equity from its assets, operations and broad patent portfolio.
TNW provides services to governments, major carriers, enterprises, small and medium sized businesses as well as to residential users on its own telecommunications infrastructure as well as a variety of underlying carriers.
About RuralCom Corporation.
RuralCom Corporation is a Canadian corporation based in Vancouver, BC and is a licensed wireless operator offering wholesale and retail service in underserved areas throughout Canada. The company currently holds Tier-2 850 MHz licenses which provide service in the northwest region of Canada.
SOURCE TNW Networks Corp.
For further information: Source: TNW Networks, Lawry Trevor-Deutsch, SVP Corporate Affairs, (514) 313-3424, Email [email protected]; RuralCom Capital Corp, Kyle Stevenson, President, (604) 788-0537, Email [email protected]; Contact: Jenna Trevor-Deutsch, Director Public Relations, Email: [email protected], Tel: 604-398-5000 ext: 109