Clearwire and Sprint Nextel have announced
that they have entered into a definitive agreement to combine their next-generation wireless broadband businesses to form a new wireless communications company. In addition, Intel Capital, Google, Comcast, Time Warner Cable, and Bright House Networks – have collectively agreed to invest $3.2 billion into the new company to be named Clearwire.
Google's Larry Adler comments on the Official Google Blog about Google's participation in the new company. It will be fascinating to watch how this affects mobile Internet usage for financial services applications. Wikipedia has a comprehensive article about the WiMax technology that is the basis for this new network.
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