Clearwire secures $900m in financing round
Following closing of the transactions, Motorola will supply wireless broadband equipment for Clearwire's existing and future networks globally. To hasten the proliferation of mobile WiMAX in PC clients, Intel will work to enable the inclusion of WiMAX chipsets in next generation mobile computing platforms. All three parties will contribute significant research and development resources to evolve NextNet Wireless' pre-WiMAX technologies.
"Our collaboration with Clearwire and Motorola builds on the foundation of previous WiMAX network deployment investments made by Intel Capital throughout the world to bring the benefits of mobile high-speed and content-rich Internet access to wireless broadband users," said Intel Capital President Arvind Sodhani.
"As Intel plans the integration of mobile WiMAX into our Centrino Mobile Technology notebook platforms, it is incredibly important to collaborate with the broadband wireless providers who will offer WiMAX services. This investment in Clearwire will lay the foundation for high-speed mobile broadband services across North America." said Sean Maloney Intel executive vice president and general manager, Mobility Group.
As part of the transaction, Motorola will acquire Clearwire's subsidiary NextNet Wireless for an undisclosed amount.
"These agreements mark a significant milestone for Clearwire," said Ben Wolff, co-CEO of Clearwire. "We believe that there is strong demand for wireless broadband connectivity that is simple, fast, reliable and affordable. Working together with Intel and Motorola to deploy mobile WiMAX technology will provide us with the benefits of a standards-based platform."
