Private equity funding from Initium enables new entity to build on its exceptional reputation for providing critical wireless connectivity services to large commercial and public sector clients
YORK, Pa., May 15, 2024 (GLOBE NEWSWIRE) — Wifinium, a provider of critical, commercial-grade connectivity solutions, has launched as an independent company after a carve-out of the respected wireless division of Business Information Group (BIG), a leading IT services firm.
Co-founder and former President and CIO of BIG’s wireless division, John Dolmetsch, has stepped into the role of CEO at Wifinium. Carve-out capital and expertise were provided by Initium Management, a private equity firm newly established by a team of seasoned operators including Kerem Bolukbasi, a finance and operations leader who will serve as Wifinium’s president.
With millions of square feet of networks under supervision and tens of thousands of devices monitored around the clock by its 100% U.S.-based Network Operations Center (NOC) engineers, Wifinium is committed to delivering dependable connectivity solutions that empower businesses to thrive in an interconnected world. Wifinium serves clients across North America with a stronghold of partners and clients in the Northeast United States and a rapidly growing client concentration in the Southeast. The company’s leadership boasts more than 200 years of cumulative experience working with wireless technologies.
“It is our mission to solve the complex connectivity needs of clients by establishing and maintaining reliable, commercial-grade connectivity,” explained John Dolmetsch, CEO of Wifinium. “We envision a future where wireless connectivity is as ubiquitous and dependable as electricity, accessible to all whenever and wherever it is needed. This vision drives our relentless commitment to innovation and excellence, ensuring that we deliver solutions that not only meet but exceed our clients’ expectations and empower them to thrive in a digitally dependent world.”
In addition to the complicated carve-out transaction it completed, Initium Management is supporting Wifinium with both investment and expertise. “We believe that wireless connectivity is one of the most important utilities of the 21st century. It’s truly a basic need,” said Kerem Bolukbasi, Managing Partner at Initium Management and President of Wifinium. “Wireless connectivity supports our societal goals and the future of our economy. The Wifinium team has proven exceptionalism in this field and is now positioned to capitalize on the growth in both public and private sector markets.”
Prioritizing reliability, the company maintains an uptime guarantee of 99.995%. And with a Mean Time to Resolution (MTTR) averaging less than 10 minutes, Wifinium minimizes disruptions and ensures uninterrupted operations for its clients. Wifinium’s NOC operates 24/7, proactively monitoring and resolving network issues to ensure seamless operations for clients.
Wifinium serves clients across many industries including transportation and transit, multi-residential housing, sports venues, and state and local municipalities. The company’s impressive roster of clients include Exelon Corporation, PPL (Pennsylvania Power & Light), County of York (PA), City of Miami Beach (FL), Ocean City (MD), Johns Hopkins Medicine, Stanford University, Live Nation Entertainment, Roers Companies, Four Seasons Hotels and Resorts, and more. Wifinium supports clients both directly and through strategic partnerships with Comcast, American Tower, HCL, Blue Stream, Kinetics, and CTS.
Financial details of the transaction were not disclosed.
About Wifinium
Wifinium provides critical, commercial-grade connectivity to private companies and essential large-scale public operations. Focused on solving the complex connectivity needs of clients, Wifinium is committed to providing accessible and reliable wireless solutions. With extensive domain experience in executing its mission on a large scale, Wifinium confidently delivers critical connectivity solutions to meet the diverse needs of clients. For more information, visit www.wifinium.com.
Media Contact:
Mark Tordik
215-644-6502
mtordik@broadpathpr.com
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