The recent departure of Sprint CEO, Gary Forsee, is having some far reaching impact. The WiMAX build out between Sprint Nextel and Clearwire is the latest victim as the proposed joint, nationwide WiMAX effort has been dropped.
Sprint’s corporate shake up was not the only reason the proposed venture was nixed,the complexities of the transaction were also cited as a stumbling block. So that leaves the American WiMAX project in a bit of a conundrum, do Sprint and Clearwire go out and forge independent networks or will new bonds form?
In the meantime, WiMAX is progressing nicely overseas, proving that they technology is valid and workable.
Via [gigaom.com]
Continue reading ‘Clearwire, Sprint Call Their Deal Off’
Clearwire has recently announced that its WiMax wireless broadband service will be offered to subscribers of DirecTV and EchoStar. This cross marketing deal is expected to go into effect by the end of this year and will let each of the three companies create a very strong marketing bundle for their consumers.
WiMax companies are slightly jumping the gun with their technology as the forum designed to certify standards and specifications still has not made an official approval known. They are expected to do so in the next few months.
Via [informationweek.com]
Continue reading ‘Clearwire Enhances WiMax Plan With Satellite Deal’
Clearwire has gone public. The company’s initial public offering was scheduled for March 6, and through it, Clearwire hoped to raise $513 million or about $25 to $27 per share. Scott Sweet, managing partner at IPOBoutique.com, expected the share price to come to between $25 and $27, thus generating some $621 million for Clearwire, one of the few companies that own spectrum suited for WiMax. The optimism is understandable in view of Clearwire CEO Craig McCaw’s track record — in 1994, McCaw sold his cellular phone empire to AT&T for $11.5 billion. In addition, Clearwire has technology heavyweights — Intel and Motorola — as partner-investors. Intel and Clearwire have teamed up to develop products based on WiMax while Motorola provides equipment to Clearwire.
Continue reading ‘Clearwire: Taking WiMAX To The Street’
Clearwire and NextWave plan to go public by early 2007 and have already filed their S-1 forms with the Securities & Exchange Commission. Both companies, which are beset by losses, are banking on WiMax for future profitability.
Clearwire already secured backing from chip manufacturer and WiMax champion Intel and cell phone maker Motorola for its venture. Based on the documents it filed with the SEC, the company, whose shares are likely to go by the symbol CLWR, holds $1.25 billion in cash, equivalents, and short-term investments. Analysts estimate the IPO to generate $400 million for Clearwire.
IPO expert Tom Taulli believes the success of Clearwire’s IPO could generate great interest for NextWave’s public debut. “If Clearwire has a good IPO, then you have a benchmark to work from,” Taulli said. The firm, however, does not see itself gaining a lot of cash from the offering since the transaction only involves a share resale. NextWave’s financial assets are smaller than Clearwire’s, with just $222 million in cash, equivalents, and short-term investments, as per its filing.
Via [businessweek.com]
Continue reading ‘WiMAX IPOs Are On The Way’
Clearwire finally rolled out its WiMax service and has chosen Seattle for this maiden venture. The company, which owns a license on 2.5 GHz spectrum, uses a proprietary “pre-WiMax” technology instead of the IEEE 802.16 standard that is equated with the term, for the network.
The service offers 768 kbps downlink/256 kbps uplink speeds under the basic plan. These are about the same speeds that subscribers of cheaper DSL get. The premium service provides users with downlink speed of up to 1.5 Mbps but for the price that Clearwire charges, broadband cable operators can deliver a faster connection.
Via [wirelessweek.com]
Continue reading ‘Clearwire Pushes WiMAX to The Big Time’
Intel, with hopes of encouraging a nationwide service that equips notebook PCs for fast Internet access and Internet-based calling throughout the US, has invested $600 million in Clearwire. This is Intel’s second investment in the Kirkland (Wash.)-based wireless broadband provider, and a big boost for WiMax. WiMax technology is used to cover large areas with wireless broadband Internet access, and Intel plans to push the market forward by incorporating dual WiFi/WiMax chips into its Centrino platform. The newly-funded Clearwire has recently moved from introducing a WiMax-precursor in 27 small cities across the US to providing service for big cities like Seattle and Honolulu.
Via [businessweek.com]
Continue reading ‘Intel’s $600 Million WiMax Bet’
Clearwire Gets More Dough
In the past two months, Clearwire has received over $1.1 billion to develop a nationwide WiMax network. It won $900 million in investment from IntelCapital and Motorola Ventures for the project in July. It secured a further $100 million from two investors and $125 million in debt financing from Morgan Stanley, Merrill Lynch, and JP Morgan. Clearwire has gathered a total of $2 billion since the startup’s inception in 2003.
Via [redherring.com]
Continue reading ‘Clearwire Gets More Dough’