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Unique Broadband takes minority stake in Look; seeks out future agreements

News | 08/19/2002 4:00 am EDT

Unique Broadband Systems Inc., a maker of OFDM-based wireless modems, is investing $5 million in struggling wireless cable and high-speed Internet provider Look Communications Inc. as part of its strategy to gain better access to recurring revenue. In return for the significant investment, the two companies have signed a $2.4-million equipment supply agreement. The length of the supply deal won’t be known until the investment agreement is completed, which is expected within the next month.

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