Sprint has announced that a new company is being formed called Clearwire which will be bringing out WiMAX services nationwide. Supported by companies such as Google, Intel, Comcast and others, the new service will be Sprints first attempt to bring WiMAX across the US. WiMAX differs from Wi-Fi in that the broadband signal can be sent up to a distance of about 50 miles.
In their press release Sprint states:
Sprint and Clearwire to Combine WiMAX Businesses, Creating a New Mobile Broadband Company
Intel, Google, Comcast, Time Warner Cable and Bright House Networks to Invest $3.2 Billion in Combined Company, at Target Price of $20.00 per Share
Formation of New Company Brings Together the Nation’s Leaders in Communications, Technology Innovation and Entertainment
New Company to Speed Deployment of First Nationwide Next-Generation Mobile WiMAX Network
Transaction Designed to Unlock the Potential of Clearwire’s and Sprint’s 4G Assets
New Company to be Led by Seasoned Management Team from Clearwire and Sprint’s XOHM Business Unit; Board of Directors to Include Leading Wireless and Cable Executives
The new company, which will be named Clearwire, will be focused on expediting the deployment of the first nationwide mobile WiMAX network to provide a true mobile broadband experience for consumers, small businesses, medium and large enterprises, public safety organizations and educational institutions. The new Clearwire expects to dramatically enhance the speed and manner in which customers access all that the Internet has to offer at home, in the office and on the road.
This project had originally been scrapped by Sprint towards the end of 2007, only to now be revived. It should be interesting to see how the WiMAX technology develops.
Full press release is here.
[tags]wimax, technology, sprint, intel, google, comcast, clearwire, press, release, [/tags]