MIDDLETOWN, R.I., Sept. 30, 2015 (GLOBE NEWSWIRE) -- Towerstream Corporation (Nasdaq:TWER), a leading Fixed Wireless Fiber Alternative provider, provided an update on customers leveraging its shared wireless network operated by HetNets Tower Corporation, its wholly owned subsidiary, to launch services and solutions related to the Internet of Things (IoT).
IoT is a broad reference to the network of physical objects or "things" embedded with electronics, software, sensors, and network connectivity. The combination of hardware and software enables these objects to seamlessly collect and exchange data. Many IoT devices are low power based and, as a result, need to be close to the ground. HetNets' shared wireless network is ideal for the IoT because it was built low to the ground and is able to deliver Wi-Fi access and offload services to wireless carriers and large cable companies. One of the largest cable companies presently utilizes HetNets' Wi-Fi network to offer Internet connectivity to its customers in New York City where it does not have its own coverage.
One of HetNets' IoT focused customers has been deploying video cameras and sensors at HetNet locations to capture vehicle, pedestrian and related traffic data. It then uses proprietary algorithms to provide its retail, commercial and real estate development customers with data regarding traffic patterns and target customer profiles.
Another IoT customer has been leveraging HetNets' network to provide global cellular connectivity solutions that enable its customers' devices to communicate with each other. Their goal is to build a cost efficient network that fosters the development of wireless applications such as patient health monitoring, vehicle tracking and fleet management, and a wide range of consumer-based services.
"These innovative companies are transforming devices into smart data reporting units that provide insightful information so that businesses can operate more efficiently," stated Arthur Giftakis, Senior Vice President of Engineering and Operations at Towerstream. "HetNets' strong network presence in dense urban markets is ideally positioned to support the expected growth of the Internet of Things."
"While these new customers are not generating a significant level of revenues presently, we believe that the projected growth of the Internet of Things should result in higher revenues over time," noted Joseph Hernon, Chief Financial Officer of Towerstream. "Our shared wireless network has substantial capacity available so we are able to add these additional customers at almost no marginal cost."
About Towerstream Corporation
Towerstream Corporation (Nasdaq:TWER) is a leading Fixed Wireless Fiber Alternative company delivering high-speed Internet access to businesses. To date the company offers its broadband services in 12 urban markets including New York City, Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay area, Miami, Seattle, Dallas-Fort Worth, Houston, Las Vegas-Reno, and the greater Providence area. In 2014, Towerstream launched its On-Net fixed wireless service offering building owners and property managers a redundant and reliable dense urban network that directly connects with Towerstream's fiber backbone. On-Net building tenants have access to 100 Mbps of dedicated, symmetrical Internet connectivity, with a premier SLA, for an industry-leading price of $699/month. For more information on Towerstream services, please visit www.towerstream.com and/or follow us @Towerstream.
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About HetNets Tower Corporation
HetNets Tower Corporation ("HetNets") was formed in January 2013 as a wholly owned subsidiary of Towerstream Corporation (Nasdaq:TWER), and offers a neutral host, shared wireless infrastructure solution, either independently or as a turnkey service. Its wireless communications infrastructure is available to wireless carriers, cable and Internet companies in major urban markets where the explosion in mobile data is creating significant demand for additional capacity and coverage. HetNets offers a carrier-class Wi-Fi network for Internet access and the offloading of mobile data. Its street level rooftop locations are ideal for the installation of customer owned small cells including DAS, Metro and Pico cells. Other solutions provided by HetNets include backhaul, power, and related small cell requirements. More information is available at http://www.hetnets.com.
Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the Company with the Securities and Exchange Commission, including, without limitation, risk related to our ability to deploy and expand small cell rooftop tower locations in the New York City and other key markets. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.