Qualcomm Invests $300 Million in NextWave

date: August 17, 2001

Qualcomm announced a commitment to make a $300 million strategic investment in NextWave Telecom, which is currently deploying a CDMA2000 wireless network designed to provide 3G services.

In addition to the investment, Qualcomm and NextWave have entered into a Technology Cooperation Agreement under which Qualcomm will help facilitate NextWave's deployment of a next-generation, nationwide CDMA2000 1X/1xEV wireless network in the US, and NextWave will commit to utilize CDMA2000 technology to provide next-generation broadband mobile data services to consumers and businesses. With data rates of up to 2.4mbps, CDMA2000 will provide NextWave the ability to offer customers a wide range of next-generation mobile services, including full web access, video streaming, high- fidelity audio downloads, multimedia messaging, email and secure VPN access to corporate applications.

"Qualcomm continues to invest in companies that support the adoption of 3G CDMA2000 1X/1xEV technologies," said Anthony Thornley, chief operating officer and chief financial officer of Qualcomm.

Allen Salmasi, CEO and chairman for NextWave, said "Qualcomm's 3G CDMA2000 technology offers the highest spectral efficiency in the industry and is uniquely capable of supporting our strategy of extending the desktop Internet experience to a broad range of wireless devices. With Qualcomm's support, we will construct one of the most advanced IP-based wireless networks in the world and help ensure America's leadership in broadband wireless technology."

Under the Technology Cooperation Agreement, Qualcomm will make available to NextWave technical assistance in designing and deploying NextWave's CDMA2000 1X/1xEV network and offer support for NextWave's innovative "carriers' carrier" distribution strategy. Qualcomm also expects to collaborate with NextWave on the development of new applications and features that will be supported by CDMA technology.

http://www.qualcomm.com
http://www.nextwavetel.com

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