Odyssey is an investor/operator specializing in telecom/media acquisitions, consolidations and turn-arounds. Since 2002 we’ve acquired and operated numerous telecom and media companies. Among its other businesses, Odyssey co-owns and operates one of the largest utility-based wireless services businesses in the U.S. Since our founding, we’ve produced a +50x return on capital for our investors and have paid over $300 million in shareholder dividends.
Selected Portfolio Companies
PT Access Networks (“PTAN”)
PTAN is the primary wireless services partner for Duke Energy and Progress Energy (before its acquisition by Duke) in Florida and North Carolina where it manages tower leasing, construction and maintenance on utility transmission towers. PTAN also manages construction and maintenance for +200 towers owned by 3rd party tower companies. Odyssey has daily oversight responsibility for the growing operations of PTAN.
Peak Tower – Peak Tower leases, constructs and manages cell towers in the U.S. The company is jointly owned by Odyssey and Duke Energy. In addition to managing cell towers on 3rd party land, Peak is Duke’s partner in the construction & management of cell towers in utility sub-stations.
Odyssey founded Tower Cloud, wrote its initial business plan, hired the management team and provided $2.5 million in seed financing. Tower Cloud is the leading U.S. provider of broadband backhaul services to wireless operators. The company has raised over $150 million from investors including Sutter Hill Ventures, El Dorado Ventures and others.
In mid-2011, Odyssey provided seed capital and began incubating this revolutionary new streaming cable TV network. The company provides the world’s first streaming cable TV network, providing ad-supported programming to+ +30 operators in the U.S.
Odyssey’s Past Investments
EPIK Communications
EPIK Communications was acquired by Odyssey from Florida East Coast Industries (NYSE: FLA) in December 2002. EPIK was a leading wholesale broadband carrier delivering integrated connectivity services to key markets in the Southeast U.S. and Latin America. Odyssey restructured and managed EPIK to deepen its commitment to carrier customers and to advance its presence at all the major cable landing stations in South Florida in order to better serve both U.S. and Latin American customers.
Progress Telecom
In November 2003, EPIK Communications merged with Progress Telecom to form a single company focused on delivering wholesale broadband and wireless solutions. The new company was jointly owned by Odyssey and Progress Energy. With the combination of these successful and complementary providers, Progress Telecom became profitable and grew to be the largest wholesale broadband provider in the Southeast. On behalf of the joint owners, Odyssey oversaw the operations of the new Progress Telecom and led its M&A activities. In March 2006, Progress Telecom’s wholesale fiber business was sold to Level3 (Nasdaq: LVLT).