Clearwire Buys Additional WiMAX Radio Licenses

US WiMAX operator, Clearwire has picked up some extra wireless licenses from private equity group, Catalyst Investors for an undisclosed amount. Catalyst began acquiring wireless licenses through its ownership of Oneida Communications in 2006 and sold the majority of Oneida's spectrum holdings to Sprint Nextel in 2008.

"We founded Oneida recognizing the development of wireless broadband and its need for more spectrum," said Christopher Shipman, partner with Catalyst Investors. "We are pleased to have made an investment in a quickly-consolidating industry and provide a 2x ROI for our limited partners in a very difficult market."

"At the onset we believed we could become a significant holder of WiMax wireless spectrum," said Bill Wilson, CEO and co-founder of Oneida. "With the financial support and management of the Catalyst and Northwood teams, we were able to acquire licenses covering more than 110 million MHz PoPs, making our goal a reality."

The sale of Oneida's assets is the first realization in Catalyst Investors II, a 2006 vintage private equity fund. Catalyst Investors is a growth private equity firm founded in 2000.

Posted to the site on 25th June 2009