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WiMAX Broadband Services
Russia |
Enforta
Expanding Broadband Services Throughout Russia
Other Topics: Build WiMAX Networks,
Municipal Broadband Networks
Enforta BV
January 30, 2006
Investment From Sumitomo
Corporation and Baring Vostok Capital Partners
Amsterdam, The Netherlands, and Moscow -- Enforta BV announced today that
it will expand its broadband services to another 12 regional Russian
cities by the middle of 2006 and an additional 14 regional cities by
2007. Enforta is currently providing broadband services in Novosibirsk
and Ryazan. In all, Enforta will provide services in at least 28 cities
over the next two years.
Enforta's expansion plans follow the announced recent financing with
investments from Sumitomo Corporation and Baring Vostok Capital
Partners. Sumitomo provided the initial funding for Enforta in early
2005.
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During 2005 Russia became one of the top 10 Internet markets in the
world in terms of users. Enforta's offering is designed to bring a low
cost, high bandwidth service to meet the growing demand for high-speed
Internet access by businesses and consumers throughout Russia. In
addition to Internet access, Enforta is providing telephony (VoIP),
email, website hosting, and dedicated ('VPN') services assuring secure
communication in a variety of applications including the interconnection
of ATM machines and branch offices. Service packages start for as little
as $39 per month.
Enforta's initial network will use advanced 'WiMAX', a newly developed
form of wireless technology which, together with other state-of-the-art
connectivity solutions will allow for the rapid, cost effective
deployment of networks that will support virtually all advanced
communication services. By so doing, Enforta will bring cutting edge
services to areas that are largely under if not un-served today.
"Enforta will be a 'first-mover' in providing broadband services to one
of the fastest growing Internet markets in the world. The economics of
the wireless broadband technology are well suited to provide service to
this market," said Elena Ivashentseva, Partner at Baring Vostok. "The
Enforta business plan is exciting and we are pleased with the results
achieved in our initial trials. Sumitomo is happy to increase its
investment to assure that Enforta remains a leader in the wireless
broadband segment," said Katsuya Kashiki, Sumitomo's Manager of New
Business and Investment in Russia.
"Enforta's market opportunity is extraordinary, and with the funding and
support of Sumitomo and Baring Vostok, we are assured of the ability to
deploy rapidly a first class affordable network," said Enforta's
Chairman, Theodore "Ted" Schell. "We are privileged to have attracted
such extraordinary partners as Sumitomo and Baring Vostok -- partners
with extensive experience in working with high growth technology based
service companies. This will help assure our success."
Enforta was formed in October 2003, and today operates in two cities --
Novosibirsk and Ryazan. The Company was founded by Mssrs Lee Sparkman,
President, and Victor Ratnikov, General Director, both with substantial
experience in building advanced telecommunications networks in emerging
markets over the past 20 years; and by Mr. Theodore Schell, Enforta's
Chairman, an internationally known telecommunications executive and
investor.
Enforta is a member of the WiMAX Forum -- an industry-led consortium of
over 300 members developing and promoting standards for IEEE 802.16
wireless broadband technology.
For more information on Enforta's current operations and planned
expansion see www.enforta.com or contact pr@enforta.com.
About Sumitomo Corporation
Sumitomo Corporation is amongst the world's largest integrated trading
and investment enterprises with annual turnover of $88.4 USD billion for
the fiscal year ending March 2005 and not only conducts commodity
transactions in all industries utilizing worldwide networks, but also
provides related customers with various financing, serves as an
organizer and a coordinator for various projects, and invests in
businesses from the information industry to the retailing industry, thus
showing great diversification as an Integrated Business Enterprise.
Sumitomo Corporation is headquartered in Japan, and has offices in 69
other countries around the world. In Russia Sumitomo Corporation began
its activities over 40 years ago and has 5 offices.
www.sumitomocorp.co.jp/english
About Baring Vostok Capital Partners
Baring Vostok Capital Partners is the manager of three private equity
funds. The NIS Fund (1994 with $160 million) was one of the first or
largest shareholders in a number of Russian or CIS companies including:
Burren Energy, Syktyvkar Forestry, Golden Telecom, Vimpelcom, Sladco,
Borjomi, and Rogan Brewery. To date, the NIS Fund has been the number
one performing Russian private equity fund and its results place it in
the top quartile of global private equity funds over the same period.
BVCP raised a second fund in 2000 (the Baring Vostok Private Equity
Fund) with $205 million in capital and its third fund in 2004 (the
Baring Vostok Private Equity Fund III) with $400 million in capital.
Today, BVCP's funds own significant stakes in Europlan Leasing, CTC
Media, Golden Telecom, Burren Energy, Spassk Cement, PPE Group, Yandex,
Ozon, Rusfinance, and Caspian Gas Corporation. The Funds' shareholders
are primarily institutional investors from Europe, North America, the
Middle East and Asia. www.bvcp.ru |
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