Clearwire In Talks With Sprint To Acquire $1 Billion In Funding
If you thought (more or less hoping) Clearwire — Sprint’s current 4G WiMax provider — would just go away already it seems their demise may be put off a little bit longer. Reports are saying that Clearwire is close to securing even more funding from Sprint to the tune of $1 billion that, besides being used to help keep the 4G provider afloat, will help upgrade their WiMax network and coverage to more places than just that Chick-fil-A down the street.
It’s well known that Sprint is making the move to LTE next year but to keep from leaving existing 4G users high and dry, have extended their network sharing deal with Clearwire for an additional 3-5 years. Word is Clearwire is looking to make the jump to LTE and maybe this new funding from Sprint will help make that transition.
Keep in mind nothing is set in stone just yet but Clearwire is reportedly “optimistic” that a deal with Sprint will be made before the end of the year. Spend that money wisely, Sprint.
[Reuters via Electronista]