Comments on: Omnisky Declares Bankruptcy, Sells Out to EarthLink
EarthLink, the U.S.'s second largest ISP, has agreed to buy just about all of OmniSky’s assets, including its subscriber base. As part of the transaction, OmniSky and EarthLink intend to transition OmniSky’s 32 thousand subscribers to EarthLink with the intention of continuing uninterrupted wireless service. As part of the deal, OmniSky, a wireless ISP, is declaring bankruptcy. This means the sale requires the approval of a bankruptcy court and a bankruptcy court-supervised overbidding process, where bidders with higher and better offers may emerge. Financial details of the deal with EarthLink were not given.
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