Kerry communications firm celebrates $12m investment

A Kerry company which specialises in providing mobile broadband to remote locations has secured a $12m (€8.6m) investment from Intel and the investment arm of the World Bank.

Tralee-based Altobridge says the funding will provide additional capital to accelerate the pace of roll-out of its low-cost wireless communications solution, which it says is in demand to meet the wireless communications requirements of remote communities, enterprises and schools of the world’s emerging markets.

“Our technology enables mobile network operators in emerging markets to cost effectively extend their broadband services to the billion people of the world on the other side of the digital divide," said CEO Mike Fitzgerald.

"This strategic investment by Intel Capital and IFC will enable us to scale commercially and to advance our R&D to further reduce transmission costs for mobile network operators."

The company, which develops technology to provide cut-price voice and data services, also intends to create additional employment.