Not many tech startups come out of Belgium, but Accelleran has assembled a team of Technicolor veterans to build a small cell for the lesser known version of 4G: time division-LTE.
Sprint doesn’t plan to dump WiMAX entirely after it takes its LTE live this summer. Instead, it plans to reposition the older 4G technology as the network for its prepaid customers. Sprint will begin selling WiMAX devices next quarter under the Boost and Virgin brands.
Clearwire has had a frustrating year so far. For every step it takes forward it seems to be forced a step a back, but CEO Erik Prusch said he is plenty confident that Clearwire can overcome those setbacks to get its LTE network built.
We’ll have to wait another year for the LTE network Clearwire has long been promising. At its quarterly earnings call on Wednesday, Clearwire CEO Erik Prusch said the WiMAX carrier’s first batch of 5,000 LTE cell sites will be switched by June of 2013.
FreedomPop plans to give away mobile data access to most of its customers for free, charging only premium users a monthly fee. If can it can make the math work, it could potentially shake up the wireless market, extending mobile data to broad swathes of the population.
One day after announcing the final details to its public offering, Clearwire has closed on the stock deal, raising $734 million in equity investment from new investors and principle shareholder Sprint. The next step? Build a big fat LTE network, of course.
Clearwire is raising another $52.5 million in its public offering. That’s hardly big money in the world of telecom finance, but it happens to be the exact amount Clearwire needs to reach its $400 million target, triggering an investment by Sprint and kickstarting its LTE rollout.
Even with a new cash infusion from Sprint, Clearwire’s LTE plans remain conservative. Given their combined spectrum resources, the two operators could build the biggest, baddest 4G network in the industry. The question is do they have the ambition — and the cash — to do it?
Clearwire plans to issue new common stock worth $300 million, which would give it half the capital it needs for the first phase of its new LTE network. As for the other half, Clearwire is looking to primary owner and investor Sprint to chip in.
Clearwire is hinting it may default on loans to save cash, which could be the first step toward bankruptcy. If that happens, Sprint stands to lose the most. Not only is it Clearwire’s largest shareholder, but Sprint’s 4G strategy is tied up in Clearwire’s spectrum hoard.