AeroNet announces $7M acquisition of Ana G. Méndez University spectrum
High-speed business internet service provider AeroNet announces a $7 million acquisition of 2.5 GHz mid-band spectrum from the Ana G. Méndez University System.
“The 2.5 GHz band is currently one of the most valuable spectrum bands for 5G and is paramount for the next-generation wireless networks,” AeroNet officials said.
This spectrum acquisition is a “crucial part of AeroNet’s strategy to expand broadband connectivity all over Puerto Rico.”
“It’s also another mark on the company’s commitment to helping close the digital divide, particularly in rural areas affected by the lack of high-speed internet service,” said AeroNet President Gino Villarini.
“Wireless technology is here to stay. Acquiring the 2.5 GHz licenses allows expanding our speeds and capacities to serve the rural and urban areas of Puerto Rico. 2021 will be a year full of growth and expansion for AeroNet,” he said.
Until last year, the 2.5 GHz licenses were part of the Educational Broadband Services system and were held by educational institutions all over the USA. The Federal Communications Commission recently changed the band rules to allow the educational institutions to divest their licenses to commercial entities.
Recently, with an investment of more than $11 million, AeroNet won licenses at the FCC’s first 5G mid-band CBRS auction. This auction made available the most spectrum licenses ever in a single FCC auction.