Telecommunications company GeoLinks will acquire 208 local multipoint distribution band spectrum licenses from Verizon Communications Inc.Financial terms of the deal between GeoLinks in Camarillo and Verizon Communications in New York were not disclosed.
The acquisition, once approved by the Federal Communications Commission, will make GeoLinks the largest holder of spectrum licenses in the 29/31 Ghz bands, the company said in a statement.
Markets in the transaction take in more than 17 U.S. cities, including Los Angeles, Chicago, New York, Detroit, St. Louis and Indianapolis. GeoLinks Chief Executive Skyler Ditchfield said the acquisition will allow the company to achieve higher speed over longer distances.
“With this deal, we will control our own airwaves and have the ability to provide gigabit and multi-gigabit speeds at lower prices and with fiber-like latency and jitter statistics to our customer base across these markets,” Ditchfield said in a statement.
GeoLinks plans to utilize the acquired spectrum to support its current and growing customer base, offering faster speeds with fixed point-to-point and point-to-multi-point wireless services, the company said.