Intel Capital Extends WiMAX Investments Worldwide

Intel Capital Extends WiMAX Investments Worldwide

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 Telecom WiMAX 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. Both new companies will be majority-owned by Orascom Telecom of Egypt and Enertel Holding respectively, with Intel Capital as the lead investor. Intel Capital will also provide access to the significant technical and marketing resources of Intel Corporation.

“ Intel Capital is a leader in promoting the deployment of low-cost WiMAX based Internet access,” said Arvind Sodhani, president of Intel Capital. “These latest agreements build on the foundation of existing Intel Capital investments to bring the benefits of low-cost, high-bandwidth broadband Internet access to consumers around the world and support the vision of the World Ahead program that Intel CEO Paul Otellini outlined earlier this month at the World Congress on Information Technology.”

Read the complete Press Release