Geoverse announces investment to accelerate buildout of ultrafast, secure private LTE systems
SEATTLE, June 19, 2018 (GLOBE NEWSWIRE) -- Geoverse, LLC, a Seattle-based neutral host company, announced today that ATN Ventures, the corporate venture capital fund of ATN International, Inc. (NASDAQ:ATNI) has acquired a majority of its shares, as property owners and enterprises get increasingly interested in using Private LTE to overcome coverage challenges.
“With Geoverse we cover all aspects of installation, operation, and financing of in-building, high capacity, reliable Private LTE solutions,” said Geoverse Chief Executive Officer Roderick Nelson. “With this investment, Geoverse will embark upon its mission to design, deploy, finance, and manage the most cost-effective, no-compromise solution to overcome indoor coverage challenges using traditional licensed and CBRS spectrum for Private LTE systems.”
The demand for Private LTE technology is expected to grow over the coming years as building managers seek to provide to occupants a superior indoor cellular experience, Private LTE network access, and granular new data and control capability with the ability to fine-tune processes using a greater number of building systems to lower energy and maintenance costs.
“The Geoverse team brings technological expertise and established industry relationships to a segment of the communications infrastructure market that is closely aligned to ATN’s experience and investment focus,” said Laurel Buckner, ATN Ventures Managing Director, “We were attracted to the management team’s talent and its intellectual property around establishing a blockchain-based GeoTrade Market Analytics platform. We are eager to support the team in their growth and expansion.”
The terms of the transaction were not disclosed.
Contact: Laurel Buckner firstname.lastname@example.org 978-720-7242