Sprint PCS Transfers Infrastructure to IWO

Independent Wireless One Corp. (IWO; Albany, NY) has completed the final phase of business transition as it assumes management of the Sprint PCS wireless telephone network in select northeast markets. As the four-month transition period ended, Sprint PCS transferred network infrastructure in seven operating markets covering 1.7 million people, including radio sites, telephone switching facilities, and other assets, to IWO.

Independent Wireless One now owns and operates the existing Sprint PCS Network in Albany, Glens-Falls, Syracuse, Utica-Rome, and the Poughkeepsie-Kingston area in New York; Manchester, NH; and portions of western Massachusetts. With the transition completed, IWO can officially begin to expand the Sprint PCS network coverage to more key cities in the region and the major interstates and highways connecting them. The largest transfer of wireless network infrastructure between Sprint PCS and a network partner was accomplished seamlessly to customers in these markets.

In December 1999, Investcorp (Manama, Bahrain), a global investment firm, certain international co-investors, and IWO management acquired 79% of IWO for approximately $135 million in total equity. The remaining 21% of the company is owned by the founders of IWO, including a number of prominent independent regional telephone companies located in the northeastern United States.

Edited by Ellen Jensen