Safaricom buys into WiMAX

14 Aug 2009

Kenya’s leading mobile operator by subscribers, Safaricom, has announced that it has signed a share purchase agreement with local WiMAX operator Packet Stream Data Networks (PSDN). CEO of Safaricom, Michael Joseph, said: ‘This acquisition is very strategic for Safaricom as it will serve to widen our already growing WiMAX footprint and enable us achieve our goal of providing our customers with a ubiquitous data network over a multiplicity of technology platforms.’ Mr Joseph revealed that the cellco had purchased 100% of PSDN, although he did not disclose the value of the deal. PSDN is the second WiMAX operator that Safaricom has bought into, following the purchase in August 2008 of a 51% stake in One Communications for USD2.6 million. Mr Joseph said Safaricom will raise its stake in One to 100% next year.