Intel said Thursday it will invest in Australian broadband carrier Unwired Australia to boost its WiMax network.
Intel's investment group Intel Capital will be buying about $28 million in secured convertible notes issued by Unwired. The Australian company will be using the proceeds to expand its services to major cities across the country.
In addition, the world's biggest semiconductor manufacturer and Unwired said they will work together to promote wireless broadband technology.
"Continued investment in WiMAX technology is strategically important for the industry," Arivind Sodhani, head of Intel Capital, said in a news release. "It will enable the provisioning of fast, full-fledged broadband Internet access to a vast proportion of the population in an accelerated time frame," he added.
WiMax stands for worldwide interoperability for microwave access and provides high-speed broadband connections over long distances wirelessly.
Copyright 2005 by United Press International
Explore further: Greenland darkening to continue, predicts CCNY expert Marco Tedesco