New York (HedgeCo.net) – Hedge fund manager, Philip Falcone’s wireless broadband and satellite network, LightSquared, and PowerNet Global, a US provider of telecommunications services, today announced that they have entered into a multi-year wholesale agreement.

“We are very pleased to provide PowerNet Global with access to LightSquared’s best-in-class wireless broadband network,” said Sanjiv Ahuja, chairman and chief executive officer of LightSquared. “This agreement reaffirms LightSquared’s commitment to enable established service providers, such as PowerNet Global, to include competitive wireless offerings in the services they provide to their customers.”

Under this agreement, PowerNet Global will become a wholesale customer on LightSquared’s 4G-LTE network and will develop its own branded voice and high-speed mobile data services for its business and residential customers. This partnership represents a major step towards making the latest generation of mobile services available to PowerNet Global’s growing customer base throughout the United States.

The deployment and operation of LightSquared’s network represent more than $14 billion of private investment over the next eight years.