Unwired Australia to receive Aud$37 million investment from Intel Capital; Companies to work together to advance deployment of WiMAX networks.

0 Comments | M2 Presswire, August, 2005

M2 PRESSWIRE-25 August 2005-INTEL: Unwired Australia to receive Aud$37 million investment from Intel Capital; Companies to work together to advance deployment of WiMAX networks(C)1994-2005 M2 COMMUNICATIONS LTD RDATE:24082005 SYDNEY, Australia: Unwired Australia, a wireless broadband carrier, and Intel Corporation announced today that Intel Capital has agreed to invest in secured convertible notes issued by Unwired with a face value of AUD$37 million (approximately US$27.9 million at present exchange rates).

The investment is part of the companies efforts to advance the deployment of WiMAX networks. Unwired will use the proceeds primarily to expand its services to other major Australian cities. As part of the announcement, the companies have agreed to...