WiMAX operator, Augere Sells Stake to Private Equity Group
Published on: 28th Oct 2009
Note -- this news article is more than a year old.
Harbinger Capital Partners has taken a 25% stake in WiMAX network operator, Augere for USD50 million. Augere currently has access to wireless spectrum in Pakistan, Bangladesh and Uganda. Licenses are also being actively pursued in countries across Africa, South Asia and Southeast Asia.
Augere launched its first commercial network in Pakistan in July 2009, under the Qubee brandname, and to be closely followed by Bangladesh. Qubee offers a range of postpay wireless broadband packages delivering speeds of up to 1 Mbps.
"Harbinger Capital Partners' investment in Augere offers a unique opportunity to join with a world class executive team, led by Sanjiv Ahuja, in bringing next generation wireless broadband solutions to emerging markets around the world," said Harbinger Capital Partners' Senior Managing Director Philip A. Falcone.
Prior to founding Augere, Mr. Ahuja was Chief Executive Officer of France Telecom's global mobile business, Orange.