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Clearwire Corporation (NASDAQ: CLWR) and Sprint Nextel Corporation (NYSE: S) announced that they have entered into a definitive agreement to combine their next-generation wireless broadband businesses to form a new wireless communications company.
The new company, which will be named Clearwire, will be focused on expediting the deployment of the first nationwide mobile WiMAX network to provide a true mobile broadband experience for consumers, small businesses, medium and large enterprises, public safety organizations and educational institutions. The new Clearwire expects to dramatically enhance the speed and manner in which customers access all that the Internet has to offer at home, in the office and on the road.
The transaction will also receive strategic and financial backing from communications, technology innovation and entertainment leaders Google, Intel, Comcast, Time Warner Cable, Bright House Networks and Trilogy Equity Partners.
Please check back regularly for updates regarding the transaction.
