Intel Capital Extends WiMAX Investments Worldwide
Subject: General Tech | May 22, 2006 - 04:54 PM | Jeremy Hellstrom
SANTA CLARA, Calif., May 22, 2006 —
Intel Capital, the venture capital investment arm of Intel Corporation,
today announced the signing of two WiMAX (Wireless Interoperability for
Microwave Access) agreements. The first is for an investment in Orascom
Telecom WiMAX Limited, a joint venture with Orascom Telecom of Egypt,
and the second is for an investment in Worldmax, a joint venture with
Enertel Holding of the Netherlands. Both investments are expected to be
completed following the fulfillment and satisfaction of certain
condition precedents and the receipt of various approvals.
The deals underscore Intel Capital's
continuing commitment to the deployment of low-cost broadband Internet
access through WiMAX networks around the world. Orascom Telecom WiMAX
Limited is also the first investment from the Intel Capital Middle East
and Turkey Fund announced last November.
Both deals are collaborations between
Intel Capital and established telecommunications companies, which will
bring significant experience of network deployment, marketing and
operations to the newly formed joint ventures. Orascom TelecomWiMAX
Limited will focus its efforts on working with governments and
companies throughout the Middle East and parts of Asia to obtain
suitable spectrum licenses for the deployment of WiMAX services.
Worldmax is targeting the deployment of WiMAX services in the
Netherlands. In addition to funding and personnel, Enertel is also
contributing an existing nationwide 80 MHz at 3.5 GHz spectrum license
to support this new joint venture.
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