Technology Industry
Industry: Email Alert RSS FeedClearwire secures $900 million
Telecommunications Mergers & Acquisitions, July, 2006 by Anonymous
FINANCING
Clearwire Corporation, a high-speed wireless broadband services provider founded by Craig McCaw, announced a series of transactions with Intel Capital the venture capital investment arm of Intel Corporation - Motorola, and Motorola Ventures to accelerate the development and deployment of portable and mobile WiMAX networks based on the IEEE 802.16e-2005 standard.
The transactions include Intel Capital's investment of $600 million as part of a $900 million private financing round and Motorola's acquisition of Clearwire's subsidiary, NextNet Wireless, a provider of OFDM-based non-line-of-sight (NLOS) wireless broadband infrastructure equipment. Motorola Ventures is also participating in the financing round.
Following closing of the transactions, Motorola...
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