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Imagine Acquires Clearwire Operations in Ireland
DUBLIN, July 26, 2010-- Imagine Communications Group, the broadband and phone company rolling out
4G WiMax across Ireland as an alternative access to the existing Eircom
network, today announced it has acquired Clearwire's Irish operations.
Clearwire has a significant telecoms infrastructure in Ireland which will
now be used by Imagine as it continues a EUR100 million national roll-out of
the high speed wireless network WiMax.
Following the Clearwire transaction, Imagine now has nearly 400 high
sites nationwide to facilitate the rapid roll out of the WiMax network.
"This is a very significant and strategic deal for us as Clearwire is one
of the world's leading 4G operators," said Mr. Brian O'Donohoe, MD of Imagine
Communications Group.
"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," Mr. O'Donohoe said.
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.
This will enable Imagine to take full advantage of the WiMax technology,
which is expected to deliver speeds of 100mbits to consumers and businesses
in the near future.
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 expects that the WiMax network will cover 90 per cent of Ireland
within two years, with prices undercutting Eircom by 50 per cent.
Imagine Communications Group is a pan-European communications provider.
The Group has substantial business operations in Europe with overall network
reach extending to Ireland, the UK, the Netherlands, Austria, Norway and the
USA.
In Ireland Imagine provides fixed voice, broadband, IP and ISP services.
Imagine is the No. 2 business telecoms company in Ireland and provides
services to 17,000 businesses.
Imagine is led by its founder, Sean Bolger, an Irish Telecoms
Entrepreneur who has founded and operated businesses in fixed, mobile and
data telecommunications services for nearly 20 years.
Other Irish shareholders include leading global private equity investor
DFJ Esprit and leading utility and renewable energy player NTR.
For further information, please contact:
Ben Kealy, Imagine Communications, +353-086-774 1999.
For interview enquiries, please contact press@modelpr.ie
Source: Imagine Communications
For further information, please contact: Ben Kealy, Imagine Communications, +353-086-774 1999. For interview enquiries, please contact press@modelpr.ie
Imagine Acquires Clearwire Operations in Ireland
DUBLIN, July 26, 2010-- Imagine Communications Group, the broadband and phone company rolling out
4G WiMax across Ireland as an alternative access to the existing Eircom
network, today announced it has acquired Clearwire's Irish operations.
Clearwire has a significant telecoms infrastructure in Ireland which will
now be used by Imagine as it continues a EUR100 million national roll-out of
the high speed wireless network WiMax.
Following the Clearwire transaction, Imagine now has nearly 400 high
sites nationwide to facilitate the rapid roll out of the WiMax network.
"This is a very significant and strategic deal for us as Clearwire is one
of the world's leading 4G operators," said Mr. Brian O'Donohoe, MD of Imagine
Communications Group.
"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," Mr. O'Donohoe said.
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.
This will enable Imagine to take full advantage of the WiMax technology,
which is expected to deliver speeds of 100mbits to consumers and businesses
in the near future.
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 expects that the WiMax network will cover 90 per cent of Ireland
within two years, with prices undercutting Eircom by 50 per cent.
Imagine Communications Group is a pan-European communications provider.
The Group has substantial business operations in Europe with overall network
reach extending to Ireland, the UK, the Netherlands, Austria, Norway and the
USA.
In Ireland Imagine provides fixed voice, broadband, IP and ISP services.
Imagine is the No. 2 business telecoms company in Ireland and provides
services to 17,000 businesses.
Imagine is led by its founder, Sean Bolger, an Irish Telecoms
Entrepreneur who has founded and operated businesses in fixed, mobile and
data telecommunications services for nearly 20 years.
Other Irish shareholders include leading global private equity investor
DFJ Esprit and leading utility and renewable energy player NTR.
For further information, please contact:
Ben Kealy, Imagine Communications, +353-086-774 1999.
For interview enquiries, please contact press@modelpr.ie
Source: Imagine Communications
For further information, please contact: Ben Kealy, Imagine Communications, +353-086-774 1999. For interview enquiries, please contact press@modelpr.ie