NEW YORK-Winstar Communications Inc., New York, will receive $900 million from its sale of a 13-percent stake to a group of investors, including Microsoft Corp., the fixed wireless access carrier announced Dec. 15.
Others participating in the purchase include Credit Suisse First Boston Equity Partners L.P., Welsh, Carson, Anderson and Stowe VIII L.P. and Cascade Investments, which is one of Microsoft Chairman Bill Gates’ personal investment companies.
“We are going to continue moving down the path we have already announced,” William J. Rouhana Jr., chairman and chief executive officer of Winstar, said.
“This just takes us further forward in terms of growth all the way through 2003.”
Earlier in December, Microsoft and L.M. Ericsson announced they planned to create a joint venture to develop and market end-to-end solutions for wireless Internet services.
