Intel Capital Extends WiMAX Investments Worldwide
First Investment in the Middle East and Continued Momentum in Europe
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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