Intel Capital
extends WiMAX investments worldwide
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.
The deals are both collaborations between Intel Capital and
established telecommunications companies, who 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 80
MHz spectrum license to support this new joint venture.
The 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.”
Over the past year, Intel Capital has announced investments in a
number of WiMAX and wireless broadband service providers around the
world including: PIPEX Wireless in the United Kingdom, DBD in
Germany, Unwired Australia, Neovia in Brazil and MVSNet in Mexico.
Intel Capital has also been active in supporting WiMAX
infrastructure development through investments in Navini Networks, a
provider of WiMAX basestations and modems, and Beceem
Communications, a provider of mobile WiMAX chipsets.
“We see the creation of this new wireless service provider as an
incredible opportunity to provide new services to major cities in
the Netherlands,” said Cees Meeuwis, Enertel executive chairman.
“Worldmax will offer wireless access and services through a
wholesale relationship with a number of resale channels in the Dutch
market. This wireless broadband access service will uniquely
complement the existing fixed-line broadband access services already
offered in the Netherlands.”
“Orascom Telecom WiMAX Limited is an exciting first step towards
bringing the advantages and opportunity of Internet connectivity to
the people of the Middle East, and beyond, many of whom have never
had such an opportunity before,” said Franco Grimaldi, CEO of
Orascom. “Together with Intel Capital, we will work closely with
governments and companies in the Middle East and Asia to make this
vision a reality.”
About Intel Capital
Intel Capital, Intel’s venture capital organization, makes equity
investments in innovative technology start-ups and companies
worldwide. Intel Capital invests in a broad range of companies
offering hardware, software and services targeting enterprise, home,
mobility, health, consumer Internet and semiconductor manufacturing.
Since 1991, Intel Capital has invested more than US$4 billion in
more than 1,000 companies spanning more than 30 countries. During
this time, about 160 portfolio companies have been acquired and
another 150 have gone public on exchanges around the world. In 2005,
Intel Capital invested about US$265 million in about 140 deals with
approximately 60 percent of funds invested outside the United
States. For more information on Intel Capital and its differentiated
advantages, visit www.intelcapital.com.
About Enertel Holding
Enertel N. V. is wholly owned by Enertel Holding. Since its
inception in 1996, Enertel has developed as a carriers-carrier
operator in the Netherlands and has evolved into a wholesale telecom
operator servicing the majority of all alternative ISPs. Enertel
also provides a variety of data and IP services directly to the
corporate customer segment. Enertel exploits its own infrastructure.
This infrastructure consists of national and metropolitan fiber
rings, a nationwide 3.5 GHz spectrum license, and an advanced data
center. Enertel Holding is owned by Greenfield Capital Partners and
its management.
About Orascom Telecom
Orascom Telecom Holding S.A.E. (“Orascom Telecom” or “OTH”) is a
leading international telecommunications company operating GSM
networks in seven high growth markets in the Middle East, Africa and
South Asia. It has a total population under license of approximately
460 million with an average mobile telephony penetration of
approximately 14 percent. Orascom Telecom operates GSM networks in
Algeria (“Djezzy”), Pakistan (“Mobilink”), Egypt (“MobiNil”),
Tunisia (“Tunisiana”), Iraq (“IraQna”), Bangladesh (“Banglalink”),
and Zimbabwe (“Telecel Zimbabwe”). Orascom Telecom had over 30
million subscribers as of December 31, 2005. Orascom Telecom also
owns 19.3 percent of Hutchison Telecommunications International
Limited, a leading telecommunication services provider operating in
eight countries.
Orascom Telecom is traded on the Cairo & Alexandria Stock Exchange
under the symbol (ORTE.CA, ORAT EY), and on the London Stock
Exchange its GDR is traded under the symbol (ORTEq.L, OTLD LI).
Intel and the Intel logo are trademarks or registered trademarks of
Intel Corporation or its subsidiaries in the United States and other
countries. * Other names and brands may be claimed as the property
of others.
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