WiMax firm raises $900 million

Iria · Jul 6, 2006, 12:36 AM

Source: News.com
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Clearwire, which hopes to install WiMax networks that will cover continents, announced Wednesday that it has received $900 million in financing from Intel and Motorola and will work with the two giants to popularize the wireless broadband technology.

Under the transaction, Intel Capital, which earlier invested in the company, will put $600 million more into Clearwire, the single biggest investment for Intel Capital ever. Meanwhile, Motorola will buy NextNet Wireless, which makes wireless broadband equipment, from Clearwire. Motorola Ventures is also buying a stake in Clearwire.

Additionally, the three companies will cooperate on research, development and deployment. Motorola will sell NextNet equipment to Clearwire, and Intel will concentrate on squeezing WiMax chips into future notebooks.

Jul 6, 2006, 12:36 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	WiMax firm raises $900 million Source: News.com __________ Clearwire, which hopes to install WiMax networks that will cover continents, announced Wednesday that it has received $900 million in financing from Intel and Motorola and will work with the two giants to popularize the wireless broadband technology. Under the transaction, Intel Capital, which earlier invested in the company, will put $600 million more into Clearwire, the single biggest investment for Intel Capital ever. Meanwhile, Motorola will buy NextNet Wireless, which makes wireless broadband equipment, from Clearwire. Motorola Ventures is also buying a stake in Clearwire. Additionally, the three companies will cooperate on research, development and deployment. Motorola will sell NextNet equipment to Clearwire, and Intel will concentrate on squeezing WiMax chips into future notebooks.