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Focus Backs Business Only Broadband

Business Only Broadband, a Westmont, Ill.-based provider of wireless broadband services to the financial sector and other large enterprise clients, has raised an undisclosed amount of Series B funding from Focus Equity Partners.

 

PRESS RELEASE

 

Business Only Broadband (BOB), a carrier-class wireless provider for the financial sector and other large enterprise clients, announced today it has closed its Series B round of financing, led by Focus Equity Partners, LLC. The Series B funding will provide growth capital for Business Only Broadband to deploy its strategy of serving large enterprise clients in the Chicago marketplace and to expand into New York City.

 

Since its beginning in 2006, Business Only Broadband has built the largest independent wireless broadband network in the Chicago area. It is completely free from local incumbent networks and provides true diversity in last mile connectivity by having no common interconnection or point of failure with any wire network. BOB uses wireless technology in the licensed spectrum ranges of 11 Gigahertz, 18 GHz and 23 GHz. In Chicago, the company has 30 transmission sites and over 300 customers. BOB can now offer customers connectivity in the Chicago area of 300 Megabits per second (Mbps) and more.

“Last year we recognized new opportunities to serve the large enterprise market,” said Richard S. Kingston, CEO, Business Only Broadband (BOB). “We have seen a growing demand for large bandwidth, diverse data networks and paths to the Internet, and an increased priority for businesses on disaster avoidance and recovery planning. This new round of funding will enable our company to further expand our products and network to help meet this need and build out our network in New York City.”

 

BOB is expanding its Chicago network capabilities with the construction of more transmission sites. Its New York City expansion will begin with back-up connectivity and disaster recovery services in lower and midtown Manhattan by constructing towers in New Jersey and the surrounding boroughs with no core infrastructure on the island.

 

“With its strong and experienced management team, Business Only Broadband is positioned to be a leading wireless broadband provider in its markets,” said David M. Duerr, principal, Focus Equity Partners. “This team has made tremendous progress in network deployment, new customer acquisition and the overall implementation of its strategy. We are extremely excited to be a partner in this venture and look forward to supporting Business Only Broadband through this next stage of growth and development.”

 

For more information on Business Only Broadband, phone 877-627-5262, email sales@bobbroadband.com, or visit

www.bobbroadband.com.

 

About Business Only Broadband

Chicago area-based Business Only Broadband, provides carrier class, 100 percent diverse wireless Metro Area Networks and Extranet Solutions to the Financial Sector and large enterprise clients. Business Only Broadband has built the largest wireless broadband network in Chicago and is currently opening service in New York City. Led by a veteran industry management team, the company offers 100 percent diverse service with no common point of failure with the LEC or CLEC network in addition to QOS, MPLS, Metro Ethernets, Private Networks and City to City connections. Visit www.bobbroadband.com for more information.

 

About Focus Equity Partners

Focus Equity Partners is a private equity investment and management firm that invests in middle market companies and assists them in reaching their performance potential. The Firm's management approach includes strategic guidance on a Board of Directors level and the placement of experienced senior management. Focus Equity Partners invests in companies at varying stages of development with sales typically ranging between $5 and $25 million. The Firm and its affiliated investors generally make investments of between $3 million and $15 million in each Portfolio Company. Visit www.focusequity.com for more information.