TIW and InfoSpace to Provide Wireless Internet Services to Brazilian ISPs
Page 1 of 1
Telesystem International Wireless (TIW) and InfoSpace will offer the InfoSpace platform of integrated wireless Internet services to all cellular operators and Internet Service Providers (ISP) in Brazil. This is the first step of InfoSpace's plans to tap Latin American market with access today to all Brazilian carriers representing more than 16 million wireless subscribers.
TIW is a global mobile communications operator and InfoSpace is a global provider of information, communication and commerce infrastructure services for wireless devices, merchants and Web sites. Under the terms of the agreement, InfoSpace will receive guaranteed quarterly payments over the next three years.
TIW has established a new company to develop wireless portals and applications on behalf of and in cooperation with cellular operators and ISPs in Brazil. Using the InfoSpace platform, operators will be able to deliver comprehensive and personalized wireless Internet services enabling their subscribers to communicate, access information and conduct commerce from mobile devices. The company will be aggregating and developing Brazilian content, including location specific content, to leverage the platform.
"We are pleased to be offering such a flexible and powerful Wireless Internet platform to cellular operators in the Brazilian market. The InfoSpace platform integrates a number of applications including location-based banking and e-commerce services which can be customized to meet the needs of cellular operators. Our objective is to work with operators to allow them to deliver more value to their subscribers," said Bruno Ducharme, president and CEO of TIW.
"Our partnership with TIW will introduce, for the first time, InfoSpace wireless Internet services to Latin America. Brazil is the eighth largest economy in the world and will surely be a growing market for our wireless Internet services," said Arun Sarin, InfoSpace's CEO. "We've gained significant market share in the US with 4 of the top 5 carriers using InfoSpace's platform and we will continue to aggressively expand our presence throughout Latin America, Europe and Asia."
The new company is currently jointly owned by TIW and CVC/Opportunity Equity Partners Opportunity, a leading investment firm in Brazil. Cellular operators and ISPs who become clients of the new company, as well as selected financial investors, will have the opportunity to become shareholders while the company is still in its formative stage. The new company will be based in Rio de Janeiro.