Hammer and Wikibuli announced today that the transaction between the companies closed as planned on January 1, 2019. As part of the agreement Hammer Wireless will acquire an interest in Wikibuli in exchange for cash and common stock. The details of the transaction were released via an 8-K in December 2018.
Hammer CEO Erik Levitt and COO and Kristen Vasicek will join Wikibuli’s board. Sean Partington and Glen Simon will continue to manage Wikibuli’s day-to-day operations.
Wikibuli suspended service in 2017 due to severe weather-related damage to its infrastructure. The new infrastructure will be owned by Wikibuli and operated by Hammer and its subsidiaries as part of it’s MNSP program. The planned network, powered by Hammer’s proprietary Air technology, will be designed to provide high speed fixed wireless services, mobility, WiFi and will incorporate smart city capabilities.
Hammer launched its MNSP program in July 2018 with 1stPoint Communications, now a key Hammer subsidiary. The program is a framework for launching networks in the U.S. and internationally where wireless spectrum is available. The Air architecture allows for a wide range of allocations and is many times more efficient than fiber based implementations while delivering similar speeds and a wide range of applications.