(August, 2006) – Instructional Telecommunications Foundation (“ITF”), North American Catholic Educational Programming Foundation (“NACEPF”) and four other non-profit educational entities announced that they have entered into significant agreements with Clearwire Corporation, a leading wireless broadband service provider. These agreements will enable Clearwire to provide wireless broadband services using over one billion MHzPOPs of Educational Broadband Service spectrum (“EBS Spectrum”), allowing Clearwire to serve over 50 million people using such EBS Spectrum. Financial terms of the agreements were not disclosed; such agreements do call for Clearwire to provide broadband services to thousands of the licensees’ constituents. ITF, NACEPF, and the other licensees were advised by investment banking firm Hadley Partners (www.hadleypartners.com) and by wireless telecommunications research and consulting firm Signals Research Group LLC (www.signalsresearch.com).
“This significant amount of EBS Spectrum will be instrumental in enabling Clearwire to roll out a nationwide wireless broadband network,” said Gerry Salemme, Executive Vice President of Clearwire. “We also believe that this transaction solidifies our position as the second largest spectrum user in the 2.495 to 2.690 GHz band in the United States.”
ITF and NACEPF are non-profit organizations that provide instructional video programming to schools and other public/private learning environments using frequencies reserved by the FCC for delivery of educational programming. All courses/broadcasts provided are non-commercial, free educational programming. Both teachers and students may use them in classrooms. For more information, please visit www.itfitv.org or www.csn-ed.net. The transaction with Clearwire will enable ITF, NACEPF, and other EBS licensees to expand their services to include high-speed data services to individuals and organizations in the non-profit and educational sectors.
“Clearwire is a leader in offering wireless broadband services, and we are excited to see how their significant investments will help us advance our mission of providing educational programming and services to students, schools, and other constituents in the non-profit sector,” said John Schwartz, President of ITF. John Primeau, President of NACEPF, added “We strongly believe that our partnership with Clearwire will enhance NACEPF’s ability to provide cutting edge learning and communications services, benefiting all that we serve. Clearwire’s recent agreements with Intel and Motorola add to Clearwire’s financial strength and bring it world-class partners to develop and deploy innovative new services that we will benefit from.”
About ITF & NACEPF.
ITF and NACEPF are non-profit organizations which have been operating in the Educational Broadband Service, and its predecessor, Instructional Television Fixed Service, since the 1980s. They are among the largest EBS licensees in the United States.
About Hadley Partners, Inc. (www.hadleypartners.com)
Founded in 1999, Hadley Partners always seeks to provide the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners is a registered broker-dealer, and a member of the National Association of Securities Dealers and the Securities Investor Protection Corporation.
About Signals Research Group LLC (www.signalsresearch.com)
Signals Research Group offers thought-leading research and consulting services on the wireless telecommunications industry. Its Signals Ahead newsletter and other research products provide time sensitive, proprietary insight and analysis on key issues, emerging trends and news flow that impact the future of the industry. Signals Research Group’s targeted clientele includes services and solution providers, venture capitalists and Wall Street professionals, not to mention anyone with a passion for wireless technologies.
About Clearwire. (www.clearwire.com)
Clearwire, founded by Craig McCaw, is a provider of reliable wireless high-speed Internet and Clearwire Internet Phone Service. Clearwire has launched wireless high-speed Internet service in 30 metro markets, covering more than 200 cities and towns in the United States, as well as in Ireland, Belgium, Denmark (under the Clearwire® name with our partner Danske Telecom) and Mexico (via our partner MVSNet).
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