Omnicity Corp, the Midwest’s largest fixed Wireless Internet Service Provider (WISP), recently announced an agreement with Cisco Systems (Nasdaq: CSCO) to display wireless broadband service throughout its network. Omnicity CEO, Greg Jarman, said, “There are only a few carrier-grade WiMAX vendors out there today, and we are excited to have chosen Cisco as our strategic equipment supplier. Having selected a vendor, we can now turn our attention to spectrum holders across the country.”
The recent announcement represents just one of several new deals signed up over the past few months, including acquisitions in Omnicity’s home state of Indiana:
• Acquisition of NDWave, Inc., Alexandria, IN
• Acquisition of North Central Communications, Peru, IN
• Acquisition of Forepoint Networks, Lafayette, IN
• Acquisition of Moreland Wireless, Henry County, IN
The above acquisitions have already given Omnicity over 3,000 new customers, resulting in a total subscriber base of over 5,000. In addition, the company partners with Rural Electric Municipal Cooperatives and Rural Telephone Companies, representing tens of millions of member-owners throughout the U.S.
Omnicity’s growth is reflected in the most recent financials, released October 27th, where the company announced an 89% jump in Q4 09 revenues, compared to the same quarter last year, and representing a 44% increase over Q3 09 revenues. Moreover, the company expects revenues to increase again in the coming quarter.
But all of this pales in comparison with Omnicity’s planned growth over the next several years, largely through acquisitions. The company expects both its customer base and revenues to grow by a factor of over 30.
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