Intel invests $43M in Japan-based WiMax start-up
UQ Communications will use the funding to continue its nationwide expansion of its WiMax service in Japan, with a commitment to provide WiMax coverage to 90% of the country by 2012.
By Suzanne Deffree, Managing Editor, News -- EDN, June 8, 2009
Intel Capital, Intel Corp's global investment organization, has invested $43 million (4.15 billion yen) in Japan-based UQ Communications Inc, a less than two-year-old WiMax mobile services company.
UQ Communications will use the funding to continue its nationwide expansion of UQ WiMax service in Japan, with a commitment to provide WiMax coverage to 90% of the country by 2012.
Today's announced $43 million investment is the latest example of Intel's WiMax funding support. Santa Clara, Calif-based Intel in April 2008 announced a $500 million investment in Taiwan WiMax. One month later, Intel was part of a $3.2 billion funding group that invested in a combined Sprint and Clearwire WiMax effort. Intel noted that to date, nearly 460 WiMax networks have been deployed in 135 countries.
“Intel Capital’s investment in UQ Communications is one of our most significant commitments in developing the WiMax ecosystem around the globe,” said Arvind Sodhani, president of Intel Capital and Intel executive VP, in a statement. “UQ’s WiMax deployment in Japan is a spectacular example of technology innovation being put to work.”
UQ Communications recently launched trial service of its UQ WiMax in Tokyo's 23 wards, Yokohama and Kawasaki, and the Tokyo International Airport. UQ Communications is slated to formally launch UQ WiMax service on July 1.
Intel is named as one of six key shareholders on UQ Communications' Web site.
