Investors keen on Wireless

By David Maida, Nzoom.com Business News Reporter

Wednesday 22nd May 2002

Walker Wireless is rolling out its first trial of wireless high-speed internet service with the backing of some big investors.

Stephen Tindall and Craig Heatley are providing a cash injection of $12 million along with $3 million from Vodafone.

Walker has also won the attention of a venture capital company in Southern California, Clarity Partners, which specialises in investing in these types of high-tech communications projects. Clarity is putting in $5 million and has promised an additional $10 million further down the road.

Walker Wireless has raised a total of $60 million for a full roll-out if a trial of 500 homes in Auckland is a success.

The system will take advantage of the new 3G broad band radio frequencies which Walker Wireless bought for $4 million from the government in January.

The company says its high-speed wireless system is reliable within a 30 kilometre radius from its network antennae and cannot be disrupted by weather. It uses a small modem which can run 10Mbps.

Vodafone would market the service and provide Walker with the use of some of its infrastructure. Vodafone also has the opportunity to own a portion of Walker Wireless.

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