Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
The results of this arrangement are that Unwired will now receive a $5 million investment from Mitsui, and the coupon rate on Intel's investment in the company returns to 4.25 percent.
"This stand by equity facility with Cornell and the receipt of funds from our partner Mitsui will result in an immediate reduction in cash outflow of $0.5M per annum," said Unwired CEO David Spence.
“With these funding facilities in place the Company is ready for any regional network build under its AUSalliance agreement and network transition to mobile WiMAX. This transition ensures our network and our business are WiMAX ready when laptops and other mobile devices with mobile WiMAX chips become commercially available in early 2008."
Unwired currently operates a proprietary wireless broadband network. Along with partner Austar, it holds most of the Australian licences for the spectrum used for WiMAX. The company's move to mobile WiMAX is being timed for the arrival of devices based on new chipsets from Intel. Manufacturers expect to receive sample chips late this year.
David Bass
| For the fourth year in a row, IDC has placed content security provider Websense (NASDAQ: WBSN) at the top of the IDC Worldwide Web Security 2011 –…
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