Intel, IFC inject $12m in Irish telco gearmaker

Intel Capital and International Finance Corp (IFC) will invest USD 12 million into Irish firm Altobridge, which specialises in making telecom network equipment for remote areas of emerging countries.

"We see a huge potential market there," said Marcos Battisti, director at Intel Capital, venture arm of the world's largest semiconductor maker Intel.

Remote areas of developing countries are the last new market for the telecom gear makers like Ericsson, Huawei and Nokia Siemens Networks, as most of the rest of the globe is already covered by wireless networks.

Altobridge will also use some of the proceeds from its series C funding to commercialise its new technology, which enables operators to get more out of their increasingly congested networks.

"There is a real strain on the networks. Without any technology improvement carriers have to invest billions and billions into networks," Battisti said. "Altobridge is a real play for both sides of the ecosystem."