Sunday, July 25, 2010

Clearwire Sells WiMAX Operations in Ireland to Imagine

Imagine Communications Group has acquired Clearwire's Irish operations. As part of the transaction, Clearwire will become a minority shareholder and will nominate a representative to Imagine's board of directors. Other specific financial terms of the transaction were not disclosed.

Imagine gained 50mHz of spectrum when purchasing Irish Broadband in 2008, added more spectrum in a Comreg process in 2009, and with Clearwire Ireland Limited's spectrum now has over 120mHz of crucial 3.4/3.6mHz spectrum. Following the Clearwire transaction, Imagine will have nearly 400 high sites nationwide to facilitate the rapid roll out of the WiMax network.

Imagine expects that the WiMax network will cover 90 percent of Ireland within two years, with prices undercutting Eircom by 50 percent.