Investment fund Intel Capital to develop operations in Romania

Investment fund Intel Capital (ICAP), a part of the American microprocessor manufacturer Intel Corporation, intends to develop its activity in Romania, and is examining business opportunities in the country and throughout the region. “Our main objective was to establish ourselves in Romania, which we have achieved this year. We will now be looking for new investment opportunities. We are interested in the Internet and telecommunications services, particularly in WiMAX technology,” Dan Lupu, senior manager for strategic investments in Central and Eastern Europe of ICAP. Midway through 2005, Intel Capital, in partnership with investment fund Enterprise Investors (EI), took over 32.5% of the shares of the business IT solutions provider Siveco Romania, following a 12 million-dollar investment. Enterprise Investors holds around 22.5% of the shares, while ICAP has purchased 10% of the shares. Intel Capital has also invested in Bulgaria together with a partner, in a telecommunications operator, which is developing a WiMAX network to cover the whole country. WiMAX is a wireless technology aimed at integrating data and voice services at a speed of up to 10MB/s. The WiMax technology standard (Worldwide Interoperability for Microwave Access) has been created by the American group Intel.