Towerstream to Acquire One Velocity's Las Vegas And Reno Assets (TWER)

Towerstream Corporation TWER, a leading 4G service provider, and One Velocity have entered a definitive agreement for Towerstream to acquire certain business assets from One Velocity. Under the terms of the agreement, Towerstream will acquire One Velocity business assets operating in Las Vegas and Reno, Nevada including all customer contracts, network infrastructure, and related assets.  The acquisition closing is subject to customary conditions and is expected to close by the end of the second quarter 2011.   As a result of the acquisition of One Velocity, Towerstream has increased its revenue guidance for the second quarter 2011 to range between $6.4 million and $6.7 million.