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By Budd McLaughlin
Times Business Editor budd.mclaughlin@htimes.com, The Huntsville Times

Huntsville-based IBEC - International Broadband Electric Communications - has reached an agreement with IBM Global Financing to help accelerate access to high-speed Internet in rural areas.

IBEC has developed technology that would deliver broadband access over electric power lines and is working with local electric cooperatives to expand a broadband network throughout rural America, predominantly in the South, East and Midwest.

"IBEC is excited by this arrangement with IBM Global Financing which will support our efforts to provide broadband Internet access to rural Americans who otherwise would have no path to this indispensable resource," said CEO Scott E. Lee. "We recognize that all Americans, including those in rural America, want and need this service."

Last week, Huntsville-based ITCDeltaCom applied for $9.4 million in federal stimulus money to expand its broadband network access. The company is also offering to match an additional $2.3 million to create access to its network across underserved markets.

The agreement with IBM Global Financing also includes DS2, an integrated chip supplier to IBEC. DS2 would make "smart boxes," which are about the size of desktop computer towers. The boxes are attached to utility poles and provide high-speed Internet signals to households that previously had only limited or dial-up access to the Internet.

"We are delighted with this relationship. It supports two growing companies like IBEC and DS2 to fund gigantic growth," said Jorge Blasco, DS2 President and CEO. "IBM Global Financing is playing a role that traditional banks are reluctant to play due to limited knowledge of the Smart Grid business and today's liquidity problems."

IBM Global Business Services has already placed thousands of the smart boxes on utility poles across several states. IBM Global Business Services recently signed a $10 million services deal with IBEC.

IBEC also benefits from funding provided by the U.S. Department of Agriculture Rural Utilities Service, which this year has been bolstered by additional funding from the American Recovery and Reinvestment Act (ARRA).

The economic stimulus law signed by President Barack Obama included $2.5 billion for the Agriculture Department to expand broadband service in rural America.

"IBM Global Financing is proud to play a part in the financing of smart projects that lead to eventual economic recovery," said John Callies, general manager of IBM Global Financing. "Spurring investments in communications and information technology infrastructure like broadband over power lines can not only provide a boost to the U.S. economy, but also lay the groundwork for long-term economic growth and significant improvement in Americans' quality of life."

Original story:
http://www.al.com/business/huntsvilletimes/index.ssf?/base/business/1252919804258520.xml&coll=1

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