Intel Funds WiMax Development to Replace WiFi

Speakeasy, a national independent broadband services provider, has received a strategic investment from the Intel Communications Fund, managed by Intel Capital. Speakeasy will use the capital to help expand network endeavors related to the new 802.16 wireless technology known as WiMax. Financial details were not disclosed. In early 2004, Speakeasy also raised $24 million in a Series D financing round from 3i and BV Capital, among others.

"WiMax" is an industry standard for wireless communications that has the potential to expand broadband wireless communications from the current WiFi range of 300 feet to up to 30 miles. Approximately 7 million people are forecasted to be using WiMax by 2007 (source: Parks & Associates), and the service will allow Speakeasy to deploy a cost-effective wireless solution to a broader geographic footprint and customer base. Speakeasy's plans include the deployment of broadband wireless networks in 2005 to support this new technology.