LaPorte-based broadband provider Surf Air Wireless recently raised $40 million in capital and acquired FreedomNet Wireless, expanding its coverage north to Grand Rapids.
Surf Air announced the deals Friday. It partnered with Stamford, Connecticut-based investment adviser Post Road Group in the capital investment.
“This new capital partnership with Post Road Group will allow us to grow organically and through acquisition, aggressively bringing connectivity and internet access to the rural homeowner, expanding our partnerships with multiple school districts and grow our commercial business,” Surf Air CEO Greg Armstrong said. “By harnessing new and improving technologies, whether microwave LTE or fiber, we can bring valuable opportunity to our customers and their workforces.”
The internet service provider in LaPorte County first established a wireless network in Northwest Indiana in 2010. Its coverage now reaches from Ohio to the Mississippi River, stretching across 30,000 square miles in the Great Lakes region in the Upper Midwest.
Surf Air Wireless has doubled in size twice in the last four years through acquisitions, including with the purchase of FreedomNet Wireless, which provides high-speed internet to rural Michigan.
Additional terms of the transactions were not disclosed.