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treich
join:2006-12-12

1 edit

treich

Member

[Bus. Ops] Anybody looking to Buy the old Omnicity now called BBN

I just got this email today:

Acquisition Opportunity: Rural Broadband Provider

Ohio and Indiana Operations – over 5,000 subscribers

Our firm has been engaged to seek a buyer for Broadband Networks Wireless Internet (“BBN” or “the Company”), an Indiana-based provider of broadband access. BBN focuses on un-served and underserved small and rural markets and currently operates networks in 29 counties in Indiana and nine counties in Ohio.

Previously operating as Omnicity, Inc. Broadband Networks acquired ownership of the assets through the U.S. Bankruptcy Court, where Omnicity had filed for Chapter 11 bankruptcy protection in September 2011. The new owners have more than 100 years of collective experience in companies providing high-tech and Internet services. Since December 2012, when the purchase was completed, they have made significant investments in new technology and network reliability, improved access by designing and building new fiber optic Internet “backhaul” connections; upgrades to servers for DHCP and e-mail, and new tower radios and receivers for customer homes.

BBN offers residential customers connection to the world through state-of-the-art wireless Internet services and offers a variety of package options allowing customers to select what will best meet their specific internet demands as well as their budget. The Company also gives rural business communities the infrastructure component they need to drive economic development and successfully compete with urban areas. The service is unique in that it provides always on Internet at speeds not otherwise available to rural consumers. While residents in cities or more populated areas often have access to high speed internet through fiber-optic land lines, installing the lines is not economically feasible for outlying regions of some states. The advancement of wireless technology has provided a more practical solution for reaching those areas.

The network has been revitalized after 14 months in bankruptcy, repairs have been significant, the company name has been changed and the customer service improved dramatically. Service calls have been completed, technology has been grouped on “like towers” and inventory has been available to field technicians, installers and tower technicians to repair or replace inoperable equipment. The health of the network is extremely high and the subscribers are active and producing revenues without the Company needing to incur additional marketing, or installation expenses.

Our client seeks a timely transaction with an operating entity for whom this subscriber base can improve economies of scale, or for a financial buyer with patient money for whom this presents a unique opportunity to acquire an expanding footprint and recurring revenue in a high growth industry.

For more information or to conduct a site inspection, please contact:

Debbie Beall

Tel: (866) 969-1115 x 6

Fax: (866) 604-9434

DBeall@EquityPartnersHG.com

www.EquityPartnersHG.com

[mod note: added bus. ops tag]

Inssomniak
The Glitch
Premium Member
join:2005-04-06
Cayuga, ON

Inssomniak

Premium Member

Are you going to buy it?
TheHox
join:2012-05-31

TheHox

Member

How much? $1,000,000?

Inssomniak
The Glitch
Premium Member
join:2005-04-06
Cayuga, ON

Inssomniak

Premium Member

Assume 40 bux per customer. 1.5 times=60 bux per customer to buy, times 12, then times 5000,

I came up with 3.6 million.
Plus or minus depending on infrastructure, customer contracts, etc.
Even at 1.2x is still 2.8 million.

treich
join:2006-12-12

2 edits

treich to Inssomniak

Member

to Inssomniak
Just let you know the previous owners had problems with there services and but I guess they got new people in and try to fix there problems but I wouldnt say its been fix.

Heck no I wont buy it there network is probably still crappy even if they said they fix the network problems I dont believe them.

Semaphore
Premium Member
join:2003-11-18
101010

Semaphore

Premium Member

The Bankruptcy filing claimed assets of only $50,000 but they had 10K customers and 40 employees according to the same documents... LOL... HTH does that work.
LLigetfa
join:2006-05-15
Fort Frances, ON

LLigetfa

Member

I'm no bean counter but maybe the assets are just capitol equipment and does not include stuff like goodwill.