Russian Broadband Wireless Access Vendor to Expand R&D for IP-Based WiMAX Solutions for Global Markets
Moscow, Russia, July 27, 2005 - InfiNet Wireless announced that the company has signed an investment deal with Baring Vostok, Intel Capital, and Boston-based investment fund Russia Now. After closing, the funds will be used for R&D work on IP-based WiMAX solutions, as well as to fund regional and worldwide sales and marketing expansion programs.
In addition to the company’s financial contribution to the recent funding round, Intel has signed a business agreement with InfiNet Wireless. The contract outlines the collaboration of Intel and InfiNet Wireless in the areas of 802.16 WiMAX technology development, public relations support and joint marketing initiatives in the Russian and CIS markets.
"InfiNet Wireless’ vision of broadband wireless networks everywhere is consistent with how Intel sees growth in this field," said Dmitri Konash, Intel Russia Sales and Marketing Group.
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