MINNEAPOLIS, Feb. 1, 2012 /PRNewswire/ -- Multiband Corporation, (NASDAQ:MBND), a leading Home Service Provider (HSP) for DIRECTV and the nation's largest DIRECTV Master System Operator (MSO) for Multiple Dwelling Units (MDUs), today announced that it has been awarded an expanded installation fulfillment territory by ViaSat, Inc. Under the new award, Multiband expects to handle approximately 37% of ViaSat's direct retail installation requirements in the U.S. Multiband has already begun to ramp up new Exede(SM) by ViaSat broadband installations and expects to significantly increase its gross additions per month with the expanded territory. ViaSat provides broadband Internet access via satellite to homes and small business in cities and rural America over both the WildBlue and new Exede networks. The newest ViaSat technology offers up to 12 MB download speeds. James L. Mandel, CEO of Multiband, commented, "Multiband has one of the largest satellite installation operations in the U.S. and this new territory provides synergies for both companies. We already have the fleet and specialized technicians for much of this territory so the ability to capitalize on these opportunities is clear. In addition, it may enhance our current acquisition, Multiband Engineering and Wireless, giving them more data options. This agreement reinforces our expertise and diversifies our presence in the satellite industry. We welcome the opportunity to expand our partnership with ViaSat and expect this will help support our aggressive growth objectives for the coming year." About ViaSatViaSat delivers fast, secure communications, Internet, and remote network access to fixed sites or on-the-move. The company provides networking products and managed network services for enterprise IP applications; is a key supplier of network-centric military communications and encryption technologies and products to the U.S. and allied governments; and is the primary technology partner for gateway and customer-premises equipment for consumer and mobile satellite broadband services. Based in Carlsbad, Calif., ViaSat has established a number of worldwide locations for customer service, network operations, and technology development. About Multiband CorporationMultiband Corporation (Nasdaq: MBND) is the largest nationwide DIRECTV master system operator in the Multiple Dwelling Unit (MDU) market and one of the largest full-service home service providers (HSPs), handling around 20% of all DIRECTV's installations, maintenance and upgrades for residents of single-family homes. Multiband is a full-service operator for a number of other providers within the footprint as well, offering solutions for watch, talk, surf and security, and is equipped with a retail store and an online store to strive to be a customer's "one source solution" for all electronic needs. Additionally, Multiband is a leading provider of software and integrated billing services to MDUs on a single bill, including video, voice, data and other value-added local services, both directly and through strategic arrangements. Multiband is headquartered in Minneapolis, Minn., and has offices strategically placed around the continental United States. Safe Harbor StatementCautionary Notice: In addition to statements of historical fact, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and is intended to enjoy the protection of that Act. These forward-looking statements reflect the Company's expectations or beliefs concerning future events. The Company cautions that these and similar statements involve risk and uncertainties which could cause actual results to differ materially from our expectation, including, but not limted to, changes in economic and market conditions, management of rowth, timing and magnitude of future contracts, fluctuations in margins, the introduction of new products and technology, the impact of adverse weather conditions and other risks noted in the Company's SEC filings, including its Annual Report on Form 10-K for its 2010 fiscal year. Forward-looking statements are made in the context of information available as of the date stated. The company undertakes no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. Company ContactContact: James Mandel, CEO for Multiband Corporation at (763)504-3000 Investor ContactCameron Donahue, Hayden IR, (651) 653-1854 or firstname.lastname@example.org
Shares of Multiband Corporation (Nasdaq:MBND) have taken a tremendous swing upward. The stock is trading at $3.46 as of 3:31 p.m. ET, 26.3% above Wednesday's closing price of $2.74. Volume is at 412,212, 2.9 times the daily average of 140,600.