Open Range Secures $374 Million to Bring Wireless Broadband to Rural Communities

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.