Published January 9, 2009
Open Range Communications, a wireless broadband provider that plans to serve rural America, said it has secured $367 million of funding - thanks to a $100 million investment from a private equity firm.
The Greenwood Village company said it received $100 million from One Equity Partners, the private equity arm of JPMorgan Chase & Co.
The deal comes after the U.S. Department of Agriculture last year approved a $267 million "broadband access loan" for Open Range. The department agreed to issue the loan on the condition that Open Range also secure private financing - a condition that has now been met.
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