Towerstream

Towerstream Corporation was an American telecommunications provider focused on delivering business broadband through fixed-wireless networks positioned as an alternative to traditional fiber, T1, DS3, and OC-3 connectivity. The company was founded in 1999 by Philip Urso and Jeffrey Thompson and initially operated in Providence, Rhode Island, and Boston, Massachusetts. Its original proposition was to give businesses faster and more flexible connectivity than legacy copper-based services, using radio links and Ethernet-based networking rather than conventional time-division multiplexing infrastructure. The company expanded geographically during the 2000s. New York City was added in 2003, followed by Chicago and Los Angeles in 2004 and the San Francisco market in 2005. It subsequently entered Philadelphia, Seattle, Miami, Dallas–Fort Worth, Las Vegas–Reno, Houston, and other metropolitan markets, both through organic network construction and acquisitions of local wireless or broadband operators. Towerstream’s business model emphasized metropolitan coverage, comparatively rapid installation, symmetrical bandwidth, and service-level commitments for commercial customers. Towerstream marketed connectivity plans ranging from approximately 1.5 Mbit/s to 1 Gbit/s. Its services could support voice over Internet protocol, virtual private networks, bandwidth-on-demand, wireless redundancy, and bundled data and video applications. Depending on the market, the company used fixed-wireless and WiMAX technologies operating in spectrum such as 3.65 GHz and 5.8 GHz. Some deployments used non-line-of-sight WiMAX, while others used line-of-sight fixed wireless. Its network architecture connected radio base stations to multiple Tier 1 Internet backbone providers, intended to improve resilience if one upstream fiber provider experienced an outage. Towerstream also developed a Wi-Fi network business. Beginning in 2010, it tested and expanded an outdoor Manhattan Wi-Fi network that was intended not only for direct connectivity but also for wholesale mobile-data offload by carriers and distribution services for mobile applications and daily-deal companies. By 2011, the Manhattan network reportedly included more than 1,000 access points, and by 2013 the company reported nearly 2,000 outdoor access points in Manhattan, with additional deployments in Miami, Chicago, and San Francisco. Towerstream participated in the Wireless Broadband Alliance and Wi-Fi Alliance and supported demonstrations related to next-generation Wi-Fi roaming. In 2014, Towerstream introduced On-Net, a building-focused fixed-wireless service. The offering connected commercial buildings to Towerstream’s fiber backbone and gave tenants access to dedicated, symmetrical broadband with a service-level agreement. This approach allowed Towerstream to serve multiple businesses in a building without requiring each customer to obtain a separate conventional fiber build. The company pursued acquisitions to broaden its urban footprint. Transactions involving Sparkplug Communications, Pipeline Wireless, One Velocity, Color Broadband Communications, and Delos Internet added customer contracts, network infrastructure, and local operations in markets including Chicago, Nashville, Boston, Providence, Las Vegas, Reno, Los Angeles, and Houston. In 2013, Towerstream also established HetNets Tower Corporation, a wholly owned subsidiary intended to develop neutral-host wireless infrastructure and shared Wi-Fi capacity for carriers and other communications providers. HetNets ceased operations in 2016. Towerstream became publicly traded through a reverse merger in January 2007, raised capital, and later moved from the OTC Bulletin Board to the NASDAQ Capital Markets. Its stock subsequently faced prolonged price weakness. Nasdaq and the U.S. Securities and Exchange Commission warned in 2015 that the company was at risk of delisting because its closing price had remained below one dollar for 30 consecuti…

Towerstream was established in 1999 by Philip Urso and Jeffrey Thompson to provide businesses with an alternative to legacy copper-based T1, DS3, and OC-3 services. Its first operations covered Providence and Boston. The company expanded into New York City in 2003, then Chicago and Los Angeles in 2004, and the San Francisco area in 2005. Its fixed-wireless proposition combined metropolitan radio networks with Ethernet-based connectivity, allowing it to offer symmetric business broadband and comparatively rapid installations. During the mid-2000s, Towerstream broadened its commercial profile and received industry recognition for its wireless broadband and VoIP-related work. In January 2007, it completed a reverse merger, raised capital, and began trading under the ticker TWER. By May of that year, its shares had moved to the Nasdaq Capital Markets, and the company had raised additional capital. The service footprint later expanded to Seattle, Miami, Dallas–Fort Worth, and Philadelphia. In 2008, the company received awards associated with its New York network and broadband wireless services. Acquisitions became an important part of Towerstream’s market expansion. In 2010, it acquired Sparkplug Communications assets in Chicago and Nashville and acquired Pipeline Wireless assets in Boston and Providence. In 2011, it purchased One Velocity assets in Las Vegas and Reno and acquired Color Broadband Communications assets in Los Angeles. In 2013, it acquired Delos Internet in Houston. These transactions generally involved customer contracts, local network infrastructure, and related operating assets rather than entire large national corporations. Towerstream also experimented with Wi-Fi as a carrier and infrastructure platform. It began a Manhattan outdoor Wi-Fi pilot in 2010, with the goal of selling wholesale access for mobile-data offload in congested areas. The network reportedly grew to more than 1,000 access points by 2011 and nearly 2,000 outdoor access points in Manhattan by 2013, alongside deployments in Miami, Chicago, and San Francisco. The company participated in the Wireless Broadband Alliance and Wi-Fi Alliance and supported demonstrations involving next-generation hotspot roaming. In 2011, it also promoted the Manhattan Distribution Network as a platform for mobile applications and daily-deal services. In January 2013, Towerstream formed HetNets Tower Corporation as a wholly owned subsidiary. HetNets pursued neutral-host and shared wireless infrastructure, including carrier-class Wi-Fi designed to help carriers and other network operators address urban capacity requirements. Towerstream announced the closure of HetNets’ operations in March 2016. Towerstream’s technical portfolio combined fixed wireless, WiMAX, and Wi-Fi. Some WiMAX markets used the 3.65 GHz band with non-line-of-sight operation, while other fixed-WiMAX services used 5.8 GHz line-of-sight links. Base stations connected to multiple upstream Internet backbone providers. In 2014, the company launched On-Net, a building-oriented service that linked commercial properties to Towerstream’s fiber backbone and supplied tenants with dedicated symmetrical connections and service-level commitments. The company’s public-market history later became difficult. In 2015, Nasdaq and the SEC warned Towerstream about a potential delisting because its closing price had remained below one dollar for 30 days. In November 2016, its Nasdaq listing ended and the shares moved to the OTCQB market. The available reference does not provide reliable current information about Towerstream’s ownership, leadership, website, or operating status.

1. 2016Nasdaq delisting

   Towerstream leaves Nasdaq and moves to OTCQB trading after sustained share-price weakness.

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2. 2014On-Net introduced

   The company launches a building-focused fixed-wireless service connected to its fiber backbone.

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3. 2013HetNets subsidiary and Houston expansion

   Towerstream forms HetNets Tower Corporation and acquires Delos Internet assets in Houston.

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4. 2011Expansion through One Velocity and Color Broadband

   Acquisitions expand the company into Las Vegas, Reno, and Los Angeles.

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5. 2010Wi-Fi pilot and acquisitions

   Towerstream begins a Manhattan Wi-Fi pilot and completes acquisitions involving Sparkplug Communications and Pipeline Wireless assets.

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6. 2007Public-market debut

   Towerstream completes a reverse merger, raises capital, and begins public trading under TWER, later moving to Nasdaq.

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7. 2005San Francisco expansion

   The company adds the San Francisco market to its fixed-wireless footprint.

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8. 2003New York City expansion

   Towerstream expands beyond its original Providence and Boston operations into New York City.

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9. 1999Towerstream is founded

   Philip Urso and Jeffrey Thompson establish Towerstream to provide fixed-wireless alternatives to legacy business connectivity.

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A metropolitan business Internet provider using fixed wireless and Wi-Fi infrastructure as an alternative or complement to conventional fiber and legacy copper connectivity.

• Business BroadbandFixed-wireless business Internet

  Towerstream’s core service provided business Internet access over metropolitan fixed-wireless infrastructure. Reported plans ranged from about 1.5 Mbit/s to 1 Gbit/s, with symmetric upstream and downstream bandwidth. The service supported VoIP, VPNs, bandwidth-on-demand, wireless backup or redundancy, and bundled data and video applications. Standard installation was described as taking roughly three to five days, making the service an alternative to slower or less flexible legacy circuit provisioning.

• On-NetBuilding connectivity2014

  Introduced in 2014, On-Net connected commercial buildings to Towerstream’s fiber backbone through the company’s fixed-wireless network. Building owners and property managers could provide tenants with dedicated, symmetrical broadband and a service-level agreement. The model allowed multiple businesses in an urban property to use Towerstream connectivity without requiring an individual conventional fiber construction project for every tenant.

• Outdoor Wi-Fi NetworkWi-Fi infrastructure and mobile-data offload2010

  Towerstream developed an outdoor Wi-Fi network beginning with a Manhattan pilot in 2010. The network was intended to serve as a wholesale platform for carriers seeking mobile-data offload in congested locations, as well as a distribution channel for mobile applications and daily-deal services. The company reported more than 1,000 Manhattan access points in 2011 and nearly 2,000 by 2013, with additional deployments in several other metropolitan areas.

• HetNets shared wireless infrastructureNeutral-host wireless infrastructure2013

  HetNets Tower Corporation was created as a wholly owned subsidiary to offer neutral-host and shared wireless infrastructure. Its intended customers included wireless carriers, cable companies, and Internet providers seeking additional urban coverage and capacity. The offering included carrier-class Wi-Fi and turnkey or independently delivered infrastructure services. Towerstream announced that HetNets closed its operations in March 2016.

• 2016Transition from Nasdaq to OTCQBOther

  Towerstream faced a Nasdaq compliance issue after its closing share price remained below one dollar for 30 consecutive days.

  What changed. The company was delisted from Nasdaq and its shares moved to the OTCQB over-the-counter market.

  Aftermath. The move reduced the company’s status on the public markets; the available reference does not establish later ownership or operating developments.

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• 2014Launch of On-NetProduct launch

  Commercial tenants needed dedicated, symmetrical Internet access while many urban buildings lacked readily available fiber service.

  What changed. Towerstream introduced On-Net, using fixed wireless to connect buildings to its fiber backbone and provide tenant connectivity with service-level commitments.

  Aftermath. The service extended Towerstream’s proposition from individual business circuits toward building-level connectivity.

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• 2013Creation of HetNets Tower CorporationStrategy

  Urban wireless operators and carriers needed additional shared infrastructure to address growing mobile-data capacity requirements.

  What changed. Towerstream formed HetNets as a wholly owned subsidiary focused on neutral-host and shared wireless infrastructure.

  Aftermath. HetNets operated as a separate infrastructure initiative until Towerstream announced the closure of its operations in March 2016.

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• 2010Expansion into wholesale Wi-FiStrategy

  Mobile data usage was increasing in dense urban areas, creating demand for alternative access and offload networks.

  What changed. Towerstream began a Manhattan outdoor Wi-Fi pilot and planned to sell wholesale access to carriers and other service providers.

  Aftermath. The network expanded substantially in Manhattan and was later used for distribution and next-generation hotspot demonstrations.

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• 2007Reverse merger and public listingM&A

  Towerstream sought public-market access and additional capital to support expansion of its fixed-wireless broadband network.

  What changed. The company completed a reverse merger, raised capital, and began trading under the TWER symbol before moving to Nasdaq Capital Markets.

  Aftermath. The listing provided access to public equity markets and accompanied further expansion into additional U.S. metropolitan areas.

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• 2016Towerstream is delisted from Nasdaq and moves to OTCQB

  After a decline in its share price, Towerstream left the Nasdaq market and began trading over the counter.

  Regulation
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• 2015Towerstream receives delisting warning

  Nasdaq and the SEC warned that Towerstream faced delisting after its closing share price remained below one dollar for 30 consecutive days.

  Regulation
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• 2014Towerstream launches On-Net service

  On-Net connected commercial buildings to Towerstream’s fiber backbone and offered tenants dedicated symmetrical fixed-wireless broadband backed by a service-level agreement.

  Product launch
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• 2013Towerstream forms HetNets Tower Corporation

  Towerstream established a wholly owned subsidiary to develop neutral-host and shared wireless infrastructure for carriers and other communications companies.

  Other
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• 2013Towerstream acquires Delos Internet

  The acquisition added Houston operations and expanded Towerstream’s reported market footprint.

  M&A
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• 2011Towerstream enters Las Vegas and Reno through One Velocity acquisition

  The company acquired One Velocity business assets and entered the Las Vegas–Reno market.

  M&A
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• 2011Towerstream acquires Color Broadband Communications assets

  The transaction added Color Broadband’s customer contracts and network infrastructure in Los Angeles.

  M&A
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• 2010Towerstream launches a Manhattan Wi-Fi network pilot

  The company began testing an outdoor Manhattan Wi-Fi network intended to support wholesale carrier access and mobile-data offload.

  Product launch
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• 2010Towerstream acquires Sparkplug Communications assets

  The acquisition of Sparkplug business assets expanded Towerstream’s Chicago presence and introduced Nashville as a new market.

  M&A
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• 2010Towerstream acquires Pipeline Wireless assets

  Towerstream purchased customer contracts, network infrastructure, and related assets in the Boston and Providence markets.

  M&A
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• 2007Towerstream completes reverse merger and begins public trading

  Towerstream completed a reverse merger, raised capital, and began trading common stock under the symbol TWER before later moving to Nasdaq.

  M&AOther
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1. Towerstream