PALO ALTO, Jan. 26, 2006 – Odyssey Telecorp Inc. and Progress Energy today announced the formation of PT Holding Company LLC. The new company has been formed to consolidate the cell tower and wireless attachment businesses formerly operated by Progress Telecom. Progress Telecom’s fiber-optic network division was sold to Level 3 Communications Inc.
The new company, which will do business as PT Access Networks, will focus on using Progress Energy’s extensive electrical transmission and substation infrastructure to actively build out the “edge network” infrastructure needed for 4G wireless networks.
“The demand for wireless network infrastructure is expanding rapidly with the adoption of 4G technologies across the industry,” said Sean Doherty, chairman and CEO of Odyssey. “We believe the assets in PT Access Networks position us well to provide services that support our customers’ migration to higher-quality and larger-capacity wireless networks.”
PT Access Networks will begin is operations with approximately 400 wireless attachment leases with every major wireless carrier, 18 cell towers, a unique marketing agreement within Progress Energy’s utility territory, and a team of managers and employees in Florida and North Carolina experienced in wireless attachments on utility infrastructure. The company will build additional teams to focus on emerging wireless opportunities, including wireless tower backhaul and Distributed Antenna Systems (DAS).