WebSky enters into JV in Thailand
WebSky, Inc. announced that it has entered into a Memorandum of Understanding with Smart Sight Ltd, a Bangkok based telecommunications company for a joint venture to design, construct, launch and operated a broadband, high speed wireless internet system in Bangkok. The parties anticipate the initial system constructed in that nation will be in Bangkok, with additional locations throughout the kingdom to be constructed thereafter.
Under the terms of the Memorandum, which will be incorporated into a definitive agreement in the near future, WebSky will own a majority of the joint venture. Smart Sight, or its Thai associates, will be responsible fortransferring licensed frequency spectrum to the venture as well as contributing some 20 million Thai Baht (approximately $US508,000) for initial sales, marketing, and distribution expenses. WebSky will be in charge with thedesign, engineering, and construction of the system throughout the country.
WebSky recently announced a Memorandum of Understanding for a joint venture for a similar broadband wireless internet system in Indonesia. In addition, the company controls licensed frequency in seven small and medium sized cities in the United States. In each case, the Company’s system utilizes licensed frequency spectrum in the 2.5 to 2.69 GHz (MMDS) band.
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