Seattle, WA - March 6, 2000
Incepta International—a Bechtel Enterprises affiliate—today announced that it has led a group of investors in providing the second round of funding for Star One AG, a new wireless broadband telecommunications company headquartered in Frankfurt, Germany.This is the first European investment for Incepta International, one of the Incepta Group of companies, a telecommunications development and investment firm backed by Bechtel Enterprises Holdings Inc. Incepta, the largest investor in this financing, led a group of six other investors that provided $72 million in Star One's second round of funding and will have a representative on Star One's Supervisory Board.
Incepta Leads Second Round Funding For German Wireless Broadband Provider
In September 1999, Star One was awarded 158 license areas to build and operate a nearly national point-to-multipoint broadband wireless network in Germany. Germany is Europe's largest telecommunications market and is particularly fast-growing in the data and mobile segments.
Star One will offer "last-mile" connectivity to small- and medium-sized businesses in most of the major markets. Services will include high-speed data transport and Internet access, local and long-distance voice services and other enhanced communications services such as e-commerce. The new funds will be used to support the company's network build-out and the expansion of its sales and marketing programs.
"I am pleased that Incepta had the opportunity to lead a group of blue chip venture investors in funding this new telecommunications enterprise" said John DeFeo, president and CEO of the Incepta Group. "Star One is consistent with our desire to develop, fund, and assist in the growth of exciting new telecommunications ventures.
Its strong leadership team is poised to capture the many customers needing high speed data transport and access to the Internet."
In addition to Incepta International, other investors included Providence Equity Partners LTD, Texas Pacific Group, GE Capital, ViVentures, Telesoft Partners, and Dresdner Kleinwort Benson.
Incepta International is part of the Incepta Group. The Incepta Group develops and invests in early stage companies in North America and Western Europe that are primarily engaged in the data, enhanced local services, strategic short-and-long haul fiber and mobile, and fixed wireless telecommunications markets. Incepta provides active support to their portfolio companies, through their staff of people experienced in the many facets of telecommunications.
Incepta benefits from Bechtel's strong reputation as a developer and owner of successful infrastructure businesses. Incepta will also leverage Bechtel's relationships to identify high-potential opportunities and its more than 30 years of experience in design and build out of telecommunications systems.
Bechtel Enterprises Holdings Inc., is the development, financing, and ownership affiliate of the Bechtel organization. The Bechtel organization is one of the world's premier engineering, construction, and project management companies. Bechtel has been active in the telecommunications sector for more than 30 years providing a full array of services--from new wireless infrastructure, to public switched telephone network additions, to large fiber network deployments. In 1998, Bechtel generated revenues exceeding $12.6 billion.
Star One AG, headquartered in Frankfurt, Germany, was founded in March 1999 and has since established itself as the early leader in the German broadband market. In September 1999, the company was awarded 158 license areas to build and operate a broadband network. Service areas cover approximately 50 million people (sometimes referred to as "pops".) The company's license coverage area includes a majority of the metropolitan areas in Germany.