Intel to invest US$500 million in Taiwan WiMAX industry over next five years
Irene Chen, Taipei; Steve Shen, DIGITIMES [Tuesday 22 April 2008]
Intel on April 21 signed a MOU (memorandum of understanding) with Taiwan's Ministry of Economic Affairs (MOEA), promising US$500 million in investment and procurement in Taiwan's WiMAX industry, according to Intel executive vice president Sean Maloney.
In addition, Intel reportedly also plans to contribute additional capital to set up a business entity with the Taiwan government for further investment in Taiwan's WiMAX industry. The planned business entity will solicit investment from Taiwan companies and then launch investment projects focusing on the integration of WiMAX devices, WiMAX network equipment, application services, and testing and certification, according to sources familiar with the cooperation plan.
The business entity may directly invest in existing WiMAX hardware companies, or establish a new company, to proceed with joint development, said the sources, noting that more details of the joint investment plans are to be finalized in the second half of this year.
Intel, however, said that it still doesn't have concrete plans for making equity investment in any of Taiwan's six licensed WiMAX service operators.
Intel executive vice president Sean Maloney speaking at a press conference in Taipei
Photo: CJ Liu, Digitimes, April 2008