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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]
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To: SteveG who wrote (107)4/26/1999 9:39:00 AM
From: MangoBoy   of 1860
 
[Diginet Secures $70M In Private Equity From Investor Group]

NEW YORK (Dow Jones)--Diginet Americas Inc., a closely held company that aims to provide local telephone services in Latin America, has secured $70 million in private equity from an investor group that includes a unit of Goldman Sachs & Co.

The company, based in Washington, now has raised more than $100 million.

Diginet plans to deliver local telephone and high-speed Internet access via "fixed-wireless" technology, which uses wireless spectrum as a substitute for copper telephone lines. Unlike traditional cellular-telephone services, fixed-wireless services aren't mobile.

Diginet, like U.S. fixed-wireless operators WinStar Communications Inc. (WCII) and Teligent Inc. (TGNT), plans to serve business customers.

Dave Schmieg, chief executive of Diginet, said the company plans to use the money to accelerate its construction of networks in Latin American markets. The company already operates networks in Buenos Aires and Bogota. "We will use the money to build out faster our major markets and build in additional markets," he said in an interview.

Schmieg and the company's chairman, Scott Puritz, said Diginet is well positioned to take advantage of the burgeoning demand for so-called "broadband" services in Latin America. "Corporate Latin America has joined the PC revolution with gusto," Puritz said. "We're seeing an increasing amount of bandwidth-intensive operations throughout Latin America."

Goldman Sachs' GS Capital Partners III is participating in the current round of financing, Diginet said. Other investors in the company include Alta Communications, Norwest Venture Partners and OneLiberty Ventures.
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