Wednesday, May 7, 2008

Google, Intel Boost Clearwire Deal

Mountain View-based Google and Santa Clara-based Intel Corporation have joined a group of investors which are putting $3.2B into a merger of Clearwire Corporation and Sprint Nextel, the firms said today. Clearwire and Sprint said today that they will combine their next-generation, wireless broadband businesses, with backing from Intel, Google, Time Warner Cable, and Bright House Networks. The new company will focus on deploying a nationwide mobile WiMax network, and will operate under the Clearwire name. Trilogy Equity Partners will also invest in the new company.