Wednesday, June 24, 2009

Clearwire Acquires Licenses from Oneida

Clearwire has acquired certain wireless licenses previously held by Oneida Communications Group and its financial backer, the private equity firm of Catalyst Investors. Catalyst began acquiring wireless licenses through its ownership of Oneida in 2006 and sold the majority of Oneida's spectrum holdings to Sprint Nextel in 2008. With this final transaction, Catalyst said it achieved a 38 percent annualized return on its investment.

Oneida was funded by management, Catalyst and Northwood Ventures to capitalize on the advent of 4G broadband wireless technology by acquiring a footprint of wireless licenses in various markets in the United States. Harold Furchtgott-Roth, former FCC Commissioner and Catalyst Operating Partner, served as the Company's co-founder and Chairman of the Board.

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