Clearwire Secures $900m In Financing With Intel Capital, Announces The Sale Of NextNet To Motorola
Subject: General Tech | July 6, 2006 - 03:35 PM | Jeremy Hellstrom
KIRKLAND, Wash., SANTA CLARA, Calif., and SCHAUMBURG, Ill., July 5, 2006 — Clearwire Corporation, a high-speed wireless broadband services provider founded by Craig McCaw, today 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 leading provider of OFDM-based non-line-of-sight (NLOS) wireless broadband infrastructure equipment. Motorola Ventures is also participating in the financing round.