US Telecom Firm, LICT Acquires 24 & 28 GHz Spectrum in Latest FCC Auction

US telecom and broadband company, LICT Corp announced that they have won the auction for 10 Licenses of the 28 GHz spectrum and 47 licenses of the 24 GHz spectrum.

As previously announced, LICT Wireless Broadband, a wholly owned subsidiary of LICT, had bid in the FCC’s Auctions 101 and 102. In order to maximize opportunities, LICT made deposits of $20 million in Auction 101 and $16 million in Auction 102. Auction 101 was completed on January 24, 2019 and Auction 102 was completed on May 28, 2019. On June 3, 2019, the FCC announced the results of both Auctions.

In Auction 101, LICT acquired 10 licenses of 28 GHz spectrum in Kansas and Nevada. In Auction 102, the company acquired 47 licenses of 24 GHz spectrum in California, Iowa, Kansas, Michigan New Hampshire, New Mexico, Utah, and Wyoming. These spectrum licenses cover areas both within LICT’s current servicing areas and beyond, significantly expanding the broadband capabilities of our subsidiary operations, both geographically and technologically.

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.