Intel splashes Wimax cash in Asia

CHIPZILLA HAS BEEN SPOTTED eyeing Asian businesses recently. The giant chip maker today announced a $15.3 million investment in Malaysian network outfit Packet One. The money, in the form of a convertible bond, will help the company to develop its Wimax service.

Packet One is the first of four Malaysian companies to be granted a Wimax licence and will be rolling out a commercial service from June this year.

No you idiot... that's a Bond Convertible!

Intel Capital, Chipzilla's purse string-clutching investment wing is also looking to make further investments throughout Asia in the coming months.

Sudheer Kuppam, who balances the Intel cheque book throughout Asia and the Pacific Rim, reckons that India is the place to be at the moment saying, " It's our most active market in the region." Intel is expected to close half a dozen deals in India this year alone.

And the Packet One signup won't be the last Wimax deal in the region either as Kuppam suggests: "We are in discussions with the multiple carriers. We expect two more deals in Southeast Asia by year-end." µ