GlobeTel Enters Into Letter Of Intent To Acquire Altvater GmbH
Mr. Ulrich Altvater, CEO of Altvater GmbH stated: "I am very pleased to expand our association with GlobeTel. This proposed acquisition will certainly enable a much faster deployment of our networks and activities across Europe and elsewhere, globally. We have experienced significant growth over the past few years and being part of the GlobeTel family of companies will propel our growth faster and more efficiently. The wireless broadband industry is at an exciting stage with interest in advanced wireless communication products and services reaching a high point this year. We are clearly at the forefront of this technology."
Leigh Coleman of GlobeTel, added: "This is a transaction that is a valuable key to the further development and growth of our already announced transaction of HotZone Wireless. GlobeTel is planning an aggressive development of our radio technology that we use in our Sanswire Networks, LLC Stratellite technology. We have found an ideal and qualified partner in Altvater and we look forward to the continued development of business, and the fulfillment of the contracts and services that are provided by Altvater in the marketplace."
Altvater currently supplies wireless hotspots in various areas of Europe with key cities of Kaiserslautern, Erfurt and Ruesselsheim Germany. These cities are the first major locations that are part of a longer-term plan to deploy HZ 4000 series Networks to 140 cities and towns in Germany, where DSL or cable is unavailable.
The proposed acquisition by GlobeTel will accelerate its roll out of its advanced WIMAX and WIFI systems through Europe. Technical and sales support staff is located in Bad Rappenau, Germany
Through GlobeTel's previous acquisition of HotZone Wireless, LLC. HotZone is currently developing WIMAX wireless systems for Sanswire's High Altitude Airship called a Stratellite. This WIMAX system will provide radio technology for the wireless communications that will cover significant geographic areas up to 120,000 square miles.
The previously announced acquisition of HotZone Wireless, LLC. provides advanced wireless products and services for terrestrial wide area networks covering rural and city areas. Upon deployment of the Stratellite, on a region-by-region and country-by-country basis, the communications technology will deliver high speed voice, data and rich streaming content, as well as other communications possibilities.
Timothy M. Huff, CEO of GlobeTel stated: "This acquisition of Altvater is part of our overall growth strategy. We are exceptionally pleased with our growth and synergy of business units and are confident in our continued development. We look forward to the completion of the transaction and to an enhanced relationship with the quality people that make up Altvater and HotZone in Europe."
SOURCE: GlobeTel Communications Corporation