SOURCE: InfiNet Wireless

July 27, 2005 08:30 ET

Infinet Wireless Signs Investment Deal With Baring Vostok and Intel Capital

Russian Broadband Wireless Access Vendor to Expand R&D for IP-Based WiMAX Solutions for Global Markets

MOSCOW -- (MARKET WIRE) -- July 27, 2005 -- InfiNet Wireless, a leading global vendor of Last Mile connectivity solutions utilizing Fixed Broadband Wireless Access (FBWA) and emerging WiMAX technologies, today 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. "Their commitment to developing and building products based on the Intel 802.16-2004 roadmap will help expand the use of WiMAX in Russia and around the globe."

InfiNet Wireless designs, manufactures and markets scalable, robust, and cost-effective fixed broadband wireless access solutions for carrier-class networks around the world. The company's wireless routing equipment is designed to implement and expand carrier-class networks for high-speed Internet access, enterprise campus networks, virtual private networks (VPNs), primary links for the Last Mile and backhauling traffic between cell towers and multiple access points.

"More than 300 large carrier networks across the world have been built with InfiNet's proven technology," said Robert Stubblebine, CEO of InfiNet Wireless. "Working with Intel Capital and Baring Vostok provides the funds that may help InfiNet Wireless' growth and facilitate the introduction of new IP-based WiMAX systems to global emerging markets."

"Baring Vostok Capital Partners is pleased to be working with InfiNet Wireless to quicken the pace of wireless voice and data communications in Russia and other emerging markets," said Stanislav Fedulov, PR director of BVCP. "We have a successful track record with one of InfiNet's sister companies, Yandex, with whom we invested in over five years ago. We expect similar growth rates to be accomplished by InfiNet Wireless as they achieve a leadership position in the new WiMAX era."

About InfiNet Wireless:

InfiNet Wireless is a leading global vendor of Last Mile connectivity solutions utilizing Fixed Broadband Wireless Access (FBWA) and emerging WiMAX technologies. InfiNet Wireless' leading-edge routing products represent more than ten years of intense engineering efforts by world-class Russian development laboratories, with extensive field experience in the design and deployment of thousands of wireless carrier-class networks. InfiNet Wireless is a member of the WiMAX Forum™ and is committed to bringing WiMAX-compliant products to market based on the emerging 802.16 standard.

As one of the first companies in the world to pioneer broadband wireless access technologies to create Metropolitan Area Networks, InfiNet Wireless quickly established a clear leadership position in fixed wireless installations in Russia and today maintains a dominant market share with over 65% of all BWA networks. More than 300 carrier-class wireless networks throughout the world have been built with InfiNet routers in Europe, Russia, China, Southeast Asia, the Middle East and the United States. InfiNet Wireless U.S. distribution channels include NXCONN Wireless (www.nxconn.com) and Continental Wireless (www.Continental-Wireless-Solutions.com).

About Baring Vostok Capital Partners:

Baring Vostok Capital Partners is one of the leading private equity firms investing in Russia and the CIS, with over $800 million in capital under management. Baring Vostok has successfully invested in a broad range of companies within the oil and gas, branded consumer products, telecommunications, financial services, media and technology sectors. Baring Vostok Capital Partners is a member of Baring Private Equity International, a $2 billion global private equity group with activities in over 25 countries worldwide. www.bvcp.ru

About Intel Capital:

Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. For more information, visit www.intel.com/capital.

Contact Information

  • For more information, contact:
    Jill Ryan
    Stauch Vetromile & Mitchell
    401-438-0614
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