Mergers and Acquistions News
Categories: Telecoms
October 2nd 2009, 15:55PM
Telecoms firm Yonder Media, which provides wireless broadband access to rural communities in the US, has announced its intention to merge with BayHill Capital and its operating subsidiary, Commission River.
The merger will take place as funds are raised to finance Yonder Media's planned expansion, which will include the acquisition of community-specific broadband suppliers and the launch of services in communities which currently lack a supplier.
As a result of the deal, Yonder Media will become a publically traded entity, paving the way to further capital investment and expansion.
"Commission River's powerful internet commerce and affiliate marketing software provides us with an important cornerstone as we grow our diversified broadband access and internet media business to serve rural consumers and businesses," said Craig Vallarino, chairman and chief executive officer of Yonder Media.
The telecoms firm estimates that nearly 50 million Americans, or 20 per cent of the US population, currently resides in rural areas.
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