This article is a bit dated but insightful.
REVA, Inc. Acquires Regional Wireless Networks and Expands Further into the Wireless Internet Market
Wednesday November 5, 1:36 pm ET
CULPEPER, Va.--(BUSINESS WIRE)--Nov. 5, 2003--REVA, Inc. (OTCBB:RVIA - News) announced today that it has signed a definitive agreement to acquire Regional Wireless Networks (RWN), a Texas-based Company specializing in wireless communications.
Pursuant to their agreement, RWN will become an independent business unit under REVA, Inc.'s corporate umbrella. RWN (www.rwnetworks.net) was acquired with the combination of REVA, Inc.'s restricted stock, cash and other considerations. This acquisition provides a stronger revenue and customer base for REVA as it enters the wireless communication market. Mr. Cameron Deal, former President of RWN, will remain as a consultant to REVA, Inc.
RWN is headquartered in Wichita Falls, and provides ultra high speed (1.5MBS) symmetrical data services to an approximate 240 square mile area with an estimated client base of 100,000. This wireless technology is used to provide Internet Services and enable broadband solutions to users across the country in non-metropolitan areas where broadband is limited or non-existent.
RWN currently provides wireless services in over 20 cities and plans to expand into other locations. Completion of this acquisition broadens the range of REVA Wireless services from Oklahoma to the Dallas/Fort Worth, Texas area. The additional substantial span of coverage by the acquisition expands REVA's business model in the wireless internet industry.
CURRENT BUSINESS INFORMATION
REVA, Inc. historically is a developer and manufacturer of Security & Surveillance, TeleHealth, and Video Compression systems. The Company designs and manufactures technology and products for the video communication market. The Company's remote video communication products can transmit (via compression) video, audio, and data over various communication media at speeds that far exceed those of its competitors.
AI
