Corridor Communications Corporation Closes Strategic Acquisition of Ash Creek Wireless Serving Dallas, Monmouth and Independence
06 July 2004 - 9:53PM
PR Newswire (US)
Corridor Communications Corporation Closes Strategic Acquisition of
Ash Creek Wireless Serving Dallas, Monmouth and Independence,
Oregon Corridors Expansion Plans Begin to Take Shape as the Company
Takes Over New Territories and Adds Over 200 Residential and
Business Customers; Motorola Canopy 5.7Ghz Gear is Added to the
Backbone of the Network MOUNTAIN VIEW, Calif., July 6
/PRNewswire-FirstCall/ -- Corridor Communications Corporation
(OTC:CORR) (BULLETIN BOARD: CORR) has completed its planned
acquisition of Ash Creek Wireless. The companies have been working
for nearly six months towards the completion of this acquisition
with the full intention of linking the two systems together and
allowing their combined customer base to roam seamlessly through
multiple Hot Zones. Ash Creek Wireless serves its current customer
base with two primary tower locations and five Hybrid sites. These
sites are all connected to a level one provider, which is currently
providing up to 3Mbps of bandwidth available to each customer. The
Motorola Canopy 5.7Ghz technology acquired from Ash Creek will
enhance the method Corridor uses to deploy Hybrid sites through out
the community. Corridors lower subscriber acquisition costs and
dealer incentive programs will allow a faster and more competitive
deployment to subscribers in the new areas. Corridor now has dual
technology in an expanded market providing WI-FI High-Speed
Broadband Internet services to all areas of the community not
currently being served by Corridor. John Conley of Ash Creek
Wireless said, "We are delighted with the acquisition and look
forward to marketing in the expanded coverage area and offering
Corridors enhanced services to the now combined customer base." "We
are extremely pleased with the synergies of this acquisition and
especially the addition of John Conley to Corridors Management
Team. John brings not only his success in launching a Wireless
Internet Company, he also brings thirty-nine years of diverse
experience in the telecommunications industry including
twenty-eight years of wire-line experience and eleven years in
cellular, system development," said J. Michael Heil Chief Executive
Officer of the Company. Scott Mac Caughern, Chairman of Corridor
Communications Corporation stated, "Subscriber growth is key as
well as all the right people. I am very pleased with the direction
and management of Corridor today. This deal with Ash Creek is just
the beginning of our growth through acquisition period which we are
in." About Corridor Communications Headquartered in Mountain View,
California with Operations in Salem, Oregon, Corridor
Communications, Inc. is an integrated wireless Internet service
provider (WISP) offering high-speed Internet and data services, to
residents and businesses. The Company plans to implement a
growth-through-acquisition strategy by targeting small to mid size
Dial Up Internet Service Providers (ISP) in areas underserved by
current broadband options. The growth strategy will also focus on
creating partnerships with existing hot spot management companies
while building company owned hotspots to create ubiquitous coverage
or "Hot Zones" that encompass entire cities. Corridor's IP-Based
technology supports all hardware meeting Wi-Fi 802.11(x) standards
operating in an unlicensed spread spectrums (2.4 GHz and 5.7 GHz),
and can be deployed far less expensively than comparable copper and
cable technologies. The company also plans to leverage its network
build out for other services that may include voice and video. For
more information about Corridor Communications, please visit the
Company's web site at http://www.corridorcommunications.com/ .
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward-looking
statements that are subject to risks and uncertainties, including,
but not limited to, the impact of competitive products and pricing,
product demand and market acceptance, new product development,
reliance on key strategic alliances, availability of raw materials,
the regulatory environment, fluctuations in operating results and
other risks detailed from time to time in the company's filings
with the Securities and Exchange Commission. Our forward-looking
statements are based on currently available information which
management has assessed but which is dynamic and subject to rapid
and even abrupt change due to risks and uncertainties that affect
our business, including the unpredictability of future revenues and
limited visibility into future demand on which to base our
forecasts; the current uncertainty in our marketplace which may
impact expected demand, customer selection criteria and sales
cycle; our ability to execute on product deliverables and major
customer contracts, slower economic growth generally, slower
adoption of broadband technology, or cutbacks in information
technology spending; and factors beyond our control such as power
outages or work stoppages at key customers. Contact: Scott Mac
Caughern of Corridor Communications Corp., +1-650-961-5707, or .
DATASOURCE: Corridor Communications, Inc. CONTACT: Scott Mac
Caughern of Corridor Communications Corp., +1-650-961-5707, or Web
site: http://www.corridorcommunications.com/
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