Clearwire


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Clearwire

(Clearwire Communications, LLC, Bellevue, WA) A wireless Internet service provider (WISP) that offered mobile and fixed WiMAX service under the CLEAR brand. Clearwire merged its WiMAX network with Sprint Nextel's Xohm-branded WiMAX network in 2008, providing download speeds up to 6 Mbps. In 2013, Sprint acquired Clearwire and notified customers that WiMAX would be ended in late 2015. Users not switching to Sprint's 4G service could continue to use 3G if their devices supported both WiMAX and 3G. Clearwire was spun off from Texas-based Sierra Technologies in 1998 and was acquired by Craig McCaw in 2003. See WiMAX and WISP.
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Clearwire will break down the barriers of traditional broadband service, offering consumers high-speed Internet without wires," added Bill Snoeberger, vice president of small markets for Clearwire.
In connection with the transaction, Clearwire has filed a Rule 13e-3 Transaction Statement and a preliminary proxy statement with the SEC.
While a majority of customers are simply making the jump to Sprint's LTE network (or a rival), the company is now facing a new lawsuit claiming the closure will affect hundreds of thousands of poor Americans by severing an existing deal Clearwire had with two non-profits, Mobile Beacon and Mobile Citizen.
The merger agreement was first announced on December 17, 2012 and Clearwire shareholders approved the transaction at a special meeting of stockholders held on July 8, 2013.
HOUSTON, June 11, 2013 /PRNewswire-USNewswire/ -- Crest Financial Limited, the largest of the independent minority stockholders of Clearwire Corporation (NASDAQ: CLWR), sent a letter to Clearwire's Board of Directors reiterating its view that DISH Network Corporation's tender offer for all outstanding shares of Clearwire for $4.
Verizon's offer further complicates a three-way series of deals in which Clearwire had agreed to sell itself to part owner Sprint Nextel Corp.
We believe this agreement with Clearwire provides us with an attractive option to supplement our own LTE build-out strategy and gives us the flexibility to access additional 4G capacity where needed as data-centric devices continue to become more popular.
Clearwire actually has a WIMAX network that has been built, albeit it will be superseded by LTE which was not available when it was constructed.
Clearwire also stands to bring in additional funds from Sprint Nextel, its majority owner and main wholesale partner.
Northwest Atlantic is working exclusively with Clearwire to find up to 50 more sites in the area, many of which will open in the next six to nine months.
The new wireless broadband product is scheduled to be made available in Clearwire markets during the second half of 2007.
Crest has also filed a lawsuit in Delaware against Sprint, Clearwire, the directors of Clearwire, and others because Crest believes that the defendants breached their fiduciary duties by scheming to extract value from Clearwire at the expense of the minority stockholders.