MobilePro to spin off Kite Networks

MobilePro plans to spin out Kite Networks as a separate business unit, MobilePro CEO Jay Wright revealed in the company’s third quarter earnings call this week.MobilePro plans to spin out Kite Networks as a separate business unit, MobilePro CEO Jay Wright revealed in the company’s third quarter earnings call this week.

Wright said both the Kite Networks and MobilePro boards had approved plans to establish Kite as “a standalone pure-play wireless broadband investment vehicle which would produce capital independent of Mobile Pro.”

Kite Networks, based in Ridgeland, Miss., owns and operates wireless networks in Tempe and Chandler, Arizona;Akron and Cuyahoga Falls, Ohio; and Longmont, Colo.

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Comments

  1. Quick glance reveals… Shrinking revenues, accelerating losses, ugly balance sheet – $39m current liabilities vs. $18m current assets, increasing debt load, a mess.

    Sounds to me like the Kite boys decided hunting for money alone was better than trying to drag along that brain damage.

  2. The question is will Kite be able to survive with just a Cisco play ?