US Wireless Online Sells 50.1 Percent Ownership Stake to Sutioc Enterprises
Tuesday January 2, 2007
Operational Management and Support Services to be Provided by IElement
LOUISVILLE, Ky., Jan. 2, 2007 (PRIME NEWSWIRE) -- US Wireless Online,
one of the nation's largest wireless broadband network operators,
announced today that it has completed the sale of a 50.1% ownership
stake to Sutioc Enterprises, Inc.
In conjunction with the transaction, which closed on December 27, 2006,
Sutioc has entered into an agreement with IElement Corporation, Inc.
whereby IElement will provide certain management and support services to
US Wireless. As part of the agreement, IElement will provide out sourced
customer service, technical support, network management, accounting,
billing and collection services as well as act as an advisor to US
Wireless' current management team. IElement is a nationwide provider of
advanced communication services and Voice over Internet Protocol (VoIP)
solutions with a network presence in 18 major markets in the United
States, including facilities in Los Angeles, Dallas and Chicago.
At the time of the sale, Sutioc and US Wireless were able to retire over
$3.5 million in US Wireless' debt.
US Wireless also expects to quickly benefit from efficiencies resulting
from the transactions including the ability to streamline its operations
and reduce administrative and operational costs. In addition, US
Wireless will soon be able to offer its current and new customers a
complete suite of voice and data products and services through
IElement's product offering.
``The combination of US Wireless' organization and network facilities
with IElement's management experience, infrastructure, broad product
range and service capability should significantly improve the Company's
competitive position,'' commented Rick E. Hughes, CEO of US Wireless
Online, Inc. ``We look forward to working with Sutioc and IElement. We
anticipate leveraging their strengths and resources to resume the growth
and expansion of our business in the near future.''
Additional announcements relating to the transaction, new product
launches, Wi-Fi Pittsburgh and other evolving developments are expected
in the near future.
About IElement Corporation:
IElement, based in Dallas, Texas, is a facilities-based nationwide
communications service provider that offers state-of-the-art
telecommunications services to small and medium sized businesses
(``SMBs''). IElement provides broadband data, voice and wireless
services by offering integrated T-1 lines as well as a Layer 2 Private
Network and VOIP solutions. These solutions provide SMBs with dedicated
internet access, customizable business solutions for voice, data,
wireless, internet, and secure communications channels between the SMB
offices, partners, vendors, customers and employees without the use of a
firewall or encryption device. IElement has a network presence in 18
major markets in the United States, including facilities in Los Angeles,
Dallas and Chicago. For more information on IElement, please visit
About US Wireless Online:
US Wireless Online owns and operates one of the nation's largest
wireless Internet broadband networks with significant coverage areas in
Alabama, Florida, Indiana, Kentucky, Mississippi and Pennsylvania. The
Company provides commercial wireless Internet access and related
applications and services in the rapidly growing wireless broadband
industry. US Wireless Online is headquartered in Louisville, Kentucky.
For more information on US Wireless Online, Inc. please visit
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