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Wireless News Desk Open Range Secures $374 Million to Bring Wireless Broadband to Rural Communities
One Equity Partners invests $100 million
By: Pat Romanski
Jan. 11, 2009 06:30 AM
Open Range Communications, a wireless broadband services provider to rural America, announced an investment of $100 million from One Equity Partners (OEP), the private equity arm of JPMorgan. In March 2008, the United States Department of Agriculture's Rural Development Utilities Program (RDUP) approved a $267 million Broadband Access Loan for Open Range, with the prerequisite that private financing also be secured. The funding enables Open Range to launch high-speed broadband Internet and voice services to more than six million citizens in 546 underserved and rural communities using WiMAX technology within five years.
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