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MetroBridge Networks completes acquisition of Utah Broadband for US$5.5 million

Fasken
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Overview

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MetroBridge Networks

On February 5, 2008, MetroBridge Networks International Inc. (TSX-V: MEB), announced that it had completed the acquisition of the assets of Utah Broadband, LLC, a Salt Lake City-based company with operations in six counties including the Salt Lake City, Provo, and Park City metropolitan areas. The purchase price of US$5.5 million is comprised of US$4.1 million in cash, and 3,119,082 in MetroBridge shares priced at $0.449 per share. MetroBridge, a leading international fixed wireless provider, delivers broadband wireless access using pre-WiMAX and other advanced wireless technologies. Its highly redundant mission critical network provides connections up to 2500Mbps in Canada and the United States. MetroBridge was advised in this transaction by a team from Fasken Martineau that included Blair Horn, Benjamin Lee and Lorene Novakowski.

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