Teligent rises from the ashes.

If you read Broadbandits, then you know the back story on fixed wireless flameout, Teligent. There is news that First Avenue Networks is acquiring the assets of Teligent in a stock transcation worth $99 million. What is more interesting that Rajendra “Raj” Singh who was one of the promoters of Teligent back in the day is joining the board of First Avenue (which trades on OTC BB by the way!)

Following the acquisition, First Avenue will hold over 700 MHz of spectrum at 24 GHz and 39 GHz in the top 75 U.S. markets. This combination represents an unparalleled collection of millimeter wave spectrum assets with ubiquitous coverage in the United States. Acquiring Teligent’s assets and operations will enable us to expand our high-speed broadband wireless access service offerings. We anticipate extending these networking advantages to Teligent’s customers,” said Dean Johnson, president and CEO, First Avenue Networks.

[Ed: I need to look into this company more closely. If anyone has more scuttlebutt please pass it my way.]