IP Democracy: Intel, Motorola Boost Clearwire

WiMax is a technology always on the cusp of breaking through and changing the dynamics of the marketplace. But it has never quite received the momentum many thinks it deserves. Now Intel, a WiMax cheerleader, and Motorola have together invested $900 million in WiMax company Clearwire in the hopes of giving the wireless, wide-area broadband technology a lift.

Of that amount, Intel is giving $600 million in cash, the biggest investment for Intel’s investment arm to date. Motorola’s investment is a little murkier given that the tech provider has also simultaneously agreed to buy Clearwire’s NextNet Wireless division. With this investment stake in hand, Clearwire is going to cancel its planned IPO, which the company had hoped would raise around $400 million.

Posted by Cynthia Brumfield on July 6, 2006 10:02 AM to IP Democracy