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Janesville, Wis. MobilePro Corp.
announced today the company has signed a letter of intent to acquire Ticon.net
, a Janesville-based Internet services provider. The deal is forecast to add more than 15,000 subscribers, $2 million in annualized revenue and to be accretive to MobilePros earnings. The transaction, which is subject to the signing of definitive agreements and customary closing conditions, is expected to close in June 2004. The terms of the transaction were not disclosed.
Ticon.net represents the first of what we hope to be several acquisitions in the Midwest region of the country. We are looking forward to continuing Ticon.nets tradition of superior customer service to over 15,000 Wisconsin customers as well as expanding into neighboring states over time. We expect this acquisition will be accretive to our earnings for the fiscal year that begins April 1, 2004, said Jay Wright, MobilePro president and chief operating officer.
Founded in 1997, Ticon.net offers T-1 and dial-up Internet access for individuals and businesses throughout Wisconsin. Ticon.net is based in
Janesville with facilities in both Janesville and Milwaukee.
MobilePro Corp. is a wireless technology and broadband Internet services
company based in Maryland with operations in Texas.