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Intel Capital president Arvind Sodhani, says his company, the second-largest investor in Sprint Nextel and Clearwire's WiMax venture announced Wednesday, helped revive their aborted partnership.
News Wednesday that Clearwire Corp. and Sprint Nextel Corp. will create a $14.5 billion company to build a nationwide wireless broadband network offers a big boost to the future of WiMax, the long-reach access technology the new company will push.
It's also a step forward for Santa Clara, Calif.-based Intel Corp., already a large investor in Clearwire and a staunch supporter of WiMax, with a chipset in the works specifically based on the technology. Intel will invest $1 billion into the new venture in exchange for a 12% stake, making it the second-largest investor after Sprint, which will own 51%. The Daily Deal spoke Wednesday with Intel Capital president Arvind Sodhani about its venture with Clearwire and the future of WiMax. The Daily Deal: Intel is obviously betting big on WiMax. How important is the deal announced today to the technology's future? Arvind Sodhani: Clearly this is important enough for us to have put $1 billion in this deal. That should give an indication of how critical and important this is and how committed we are to making this happen. The magnitude of the deployment required requires a lot of capital, and our investment and engagement is consistent with that. WiMax is faster, cheaper and getting deployed all over the world. No other technology comes anywhere near to WiMax in terms of speed or cost or ease of integration into laptops. It is global. - Olaf de Senerpont Domis Read the full story on TheDeal.com. See Tech Confidential: Craig McCaw's right-hand man to head new Clearwire See Sprint-Clearwire unveil WiMax deal Categories Deal Video
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