Imagine Communications Group has announced the acquisition of wireless broadband provider Clearwire’s operations in Ireland, helping the telecoms group roll-out 4G WiMax across the country.
The pan-European communications provider declined to reveal how…
Imagine Communications Group has announced the acquisition of wireless broadband provider Clearwire’s operations in Ireland, helping the telecoms group roll-out 4G WiMax across the country.
The pan-European communications provider declined to reveal how much it paid for Clearwire’s telecoms infrastructure, but a person familiar with the company said the enlarged business is now valued at ?200m.
Imagine said the deal will play a significant role in the group’s ?100m roll-out of WiMax across Ireland.
Brian O’Donohoe, Imagine’s managing director, hailed the move as significant and strategic for the company, which aims to provide Ireland with an alternative phone service to Eircom, the former state-owned incumbent.
“Key network and operational assets, as well as a talented technical team, will serve as a solid launch pad for expanding service and making 4G mobile broadband a reality across Ireland,” said O’Donohoe.
The deal also sees Clearwire become a minority shareholder of Imagine, enabling the group to nominate a representative to its board of directors.
However, it is understood that Clearwire’s stake in the enlarged group is only in the single figures.
Eames, the specialist telecoms lawyer, advised Imagine on the sale.
