$50 Million for Broadband Growth in ‘WildBlue’ Yonder

WildBlue Communications, a provider of broadband Internet over satellite service in rural areas, has just completed a $50 million equity financing to support its continued growth.

The proceeds will pay for WildBlue's recently launched customer equipment leasing program, which allows the company's service to be offered to new customers throughout rural America at a lower price. WildBlue will also expand its workforce in the areas of customer care and field service operations.

"This equity investment underscores our major shareholders' strong support for WildBlue's vision and it enables us to continue and expand our commitment to delivering a superior customer experience," said David Leonard, WildBlue's Chief Executive Officer. "A broadband Internet connection is an essential tool for participating fully in the information economy, and in these challenging economic times, rural residents are looking for a more affordable solution," added Leonard.

WildBlue estimates that there are more than 11 million households in areas throughout the United States where DSL or cable broadband services are not available. Seven million of those are still accessing the Internet through a traditional dial-up connection.

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