Xiocom, founded in 2002 as CityNet in Panama City, Florida, has successfully made inroads in the wireless broadband network market with its unique and enabling business model and technology. Recent investments by Columbus VC and Remgro brought about the merger of CityNet’s local and international operations to create Xiocom Wireless, headquartered in Atlanta, with other sales and support offices worldwide.
Announcing the formation of the new company, CEO Jeff Spence said Xiocom will offer a range of flexible, tailor-made services that will substantially reduce the cost of urban and rural networking, both in developed and economically emerging markets.
"Broadband network delivery systems are now at the center of all global digital communications," Spence said. "Our goal is to reduce the traditional cost of networking and enable our partners to effectively and efficiently deliver quality broadband to their customer base." Spence also noted that “While our main focus is certainly in the economically emerging markets, we will also pay careful attention to opportunities in the traditional developed markets where our solution is a lever for meeting pent-up demand. Xiocom’s open standard solution has been licensed in over 50 countries.
"We are delighted to have Richemont and Remgro as partners. They provide a unique global perspective and invaluable brand expertise that has already helped expedite our expansion internationally," Spence said. Columbus CV is a wholly owned subsidiary of Richemont, a Swiss-based international luxury goods company that focuses on opportunities presented by the convergence between global branded consumer goods markets, information technology, and digital media. South Africa based Remgro Limited is an investment holding company with tobacco, banking, & financial services and other trademark products.