SOURCE: Enforta

January 15, 2008 14:25 ET

Enforta Moves Russian WiMAX Forward With Additional Investment and Plans to Enter Another 40 Cities During 2008

MOSCOW--(Marketwire - January 15, 2008) - Enforta today announced that it will be expanding its operating footprint to 65 of Russia's largest cities by the end of 2008. The company now provides high speed Internet, telephony, and VPN services in 25 of Russia's regional capital cities using WiMAX and other technologies.

The announcement of its expansion follows Enforta's completion of an additional $40M investment from its existing shareholder group and a new investor, Bessemer Venture Partners. Founded in 1911, Bessemer is the oldest venture capital practice in the United States with offices in Silicon Valley, Boston, New York, Shanghai, Mumbai, Bangalore and Tel Aviv. "This is Bessemer's first direct investment in Russia, and we are pleased to have them join in both Russia's and Enforta's growth," said Lee Sparkman, Enforta's President.

"The WiMAX business proposition takes on a whole new dimension when used to provide basic infrastructure in emerging economies," said Ron Elwell, Partner at Bessemer Venture Partners who joins the Enforta Board of Directors. "We find Enforta one of the most interesting WiMAX opportunities in the world." Also participating in the investment were Enforta's existing investors: Baring Vostok Capital Partners, Sumitomo Corporation, and the European Bank for Reconstruction and Development (EBRD).

The first eight of Enforta's new cities, expected to be commissioned in the first quarter of the year, include: Izhevsk, Nizhny Novogorod, Volgograd, Lipetsk, Tomsk, Komsomolsk-na-Amur, Nakhodka, and Ussuriysk. "By year's end, Enforta will serve communities with an aggregate population of 55 million people," said Victor Ratnikov, Enforta's General Director. "It is still early in the development of the Russian wireless broadband market, but Enforta plans to be amongst the leaders."

About Enforta

Enforta was formed in October 2003 with the objective to provide broadband services using WiMAX and other advanced technologies in Russia's regional capitals. Together with its 'ART Communications' subsidiary in Moscow, Enforta's service area will extend to 65 cities by the end of 2008.

Enforta is a member of the WiMAX Forum®. For more information on Enforta's current operations and planned expansion see www.enforta.com or contact Oleg Taynov pr@enforta.com.

Contact Information

  • ZAO Prestige-Internet
    Mishina Street 56; Building 2
    127083 Moscow, Russian Federation
    Telephone: +7 (495) 739-7559
    www.enforta.com