Friday, October 7, 2011

OpenRange Communications Files For Bankruptcy

Greenwood Village-based Open Range Communications, which was building out a rural mobile broadband network, has filed for bankruptcy, and has cut around 122 employees, according to reports. The news was first broken by Fierce Wireless. Open Range had heavy backing from U.S. government loans for its network bulidout, to the tune of $267M. The firm had been backed by One Equity Partners, among others.