Civitas Acquires Ricochet Wireless Network For Denver Metro Area

Denver, CO - Ricochet Networks, Inc., a wholly owned subsidiary of Terabeam, Inc., and Civitas Wireless Solutions, LLC, recently announced that Civitas has acquired the Ricochet wireless network and operations for the greater Denver metropolitan area. Judi Evans is the President, Chief Executive Officer, and majority owner of Civitas and will continue running the network with her team as she has been doing as President of Ricochet Networks, Inc. since 2005. In addition, Ricochet Networks, Inc. announced that it has ceased operations of its San Diego network and is no longer in the business of providing wireless Internet services.

Headquartered in Denver, Colorado, Civitas now operates the Ricochet® metropolitan scale wireless network in the Denver metro area, with approximately 6,000 users. Civitas also plans to continue the expansion of its wireless services, such as the recently announced municipal Wi-Fi project with the City and County of Denver and other similar initiatives.

"We are excited about the opportunity to expand our broadband wireless services in the municipal wireless market," said Judi Evans, President and CEO of Civitas Wireless Solutions. "We see great transformation in the market, with the new emphasis on building sustainable wireless networks, both ecologically and economically. Ricochet's engineering, customer support, operational experience, intellectual property, and market focus puts us in a strong position to partner with both system integrators and municipalities to deliver robust, sustainable wireless solutions."

"We thank the thousands of Ricochet customers who have shown tremendous loyalty through the years and changes, as well as the dedicated employees of Ricochet with whom it has been a pleasure to work. We look forward to seeing Civitas' progress in delivering wireless mesh solutions in the Denver metropolitan area and beyond," said Robert Fitzgerald, Ricochet's Chief Executive Officer.

Ricochet's parent company, Terabeam, Inc., will file a Form 8-K with the Securities and Exchange Commission shortly that will contain additional information about this transaction.

SOURCE: Ricochet Networks, Inc.