PEG Bandwidth Raises $15 Million
PEG Bandwidth, a Dallas-based provider of customized, fiber-based backhaul networks, has raised $15 million in private equity funding from Associated Partners.
PRESS RELEASE
PEG Bandwidth, a provider of customized, fiber-based backhaul networks, announced today that it has closed an equity financing of $15 million from Associated Partners LP. The transaction was consummated through the merger of PEG Bandwidth into Wireless Infrastructure Partners, LLC, which will do business as PEG Bandwidth. PEG Bandwidth also announced the appointment of telecom industry veteran Richard Ruben as the company’s Chief Executive Officer.
Founded in early 2009, PEG Bandwidth is quickly establishing itself as a trusted source of backhaul expertise for wireless carriers’ 3G (HSPA, EVDO) and 4G (LTE, WiMax) network build-outs necessary to meet the exploding demand for wireless video and data. PEG Bandwidth is uniquely positioned to customize backhaul networks across disparate fiber networks while meeting or exceeding the wireless carriers’ performance standards.
PEG Bandwidth’s founding management team has been solely focused on the cell site backhaul business since 2004 and that experience has helped the company obtain awards in Tier 1 markets from top wireless carriers. Several additional projects are in progress throughout the country. The financing will allow PEG Bandwidth to continue aggressive expansion of its backhaul network deployment.
PEG Bandwidth is focused on providing high-capacity fiber connections from the edge of the wireless carrier’s network back to existing geographic core fiber infrastructure. Through broad partnerships with fiber providers, cable companies, CLECs and others, PEG Bandwidth can aggregate backhaul traffic across multiple networks, covering a larger percentage of a region, and provide a seamless, end-to-end solution to its wireless carrier customers. PEG Bandwidth has extensive cell site backhaul expertise and deep wireless carrier relationships, a powerful combination attractive to its fiber partners who view PEG Bandwidth as an extension of their own sales team. PEG Bandwidth recently partnered with FiberLight, a provider of optical transport network solutions to telecom carriers and other businesses.
“We are excited to partner with PEG Bandwidth in their deployment efforts as it further expands our support of wireless backhaul networks,” said Michael P. Miller, CEO and Founder of FiberLight. “PEG Bandwidth’s backhaul expertise and strong industry relationships are a great foundation for success.”
Ruben, PEG Bandwidth’s new CEO and a 20-year wireless industry veteran, was previously CFO of Verizon Wireless’ predecessor Bell Atlantic Mobile, and President of Comcast-Spectacor. More recently, he held CEO positions at Wire One Communications and XOS Technologies. “One of the greatest challenges wireless carriers will face over the next several years will be building out their backhaul infrastructure to power 4G
networks,” Ruben said. “The increasing functionality of smart phones, along with data cards and new wireless devices like Apple’s iPad and HP’s Slate, are revolutionizing the wireless industry. These devices will increase the bandwidth demands on wireless networks geometrically. PEG Bandwidth is the ideal partner to connect existing fiber infrastructure to wireless networks. We are excited to be able to leverage Associated
Partner’s storied telecom investment track record, to aggressively expand PEG Bandwidth.”
About Associated Partners
Associated Partners LP is an investment and operating partnership focused on the broad
telecommunications industry, as well as infrastructure and related technologies.
Associated has three decades of experience at the forefront of leading-edge telecom
companies across the radio, cable, paging, cellular, fiber and fixed wireless sectors.
About PEG Bandwidth
PEG Bandwidth, with offices in Dallas, St. Louis and Philadelphia, is a provider of fiber-
based, customized cell site backhaul solutions for wireless carriers. PEG Bandwidth has
been awarded backhaul services from major wireless providers to help support 3G
(EVDO, HSPA) and 4G (WiMax, LTE) wireless deployments in a Tier 1 market and
recently raised $15 million to support the deployment of additional backhaul networks.
For more information, please visit our website at www.pegbandwidth.com.
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