Harbinger Capital Partners has acquired 25% of the Class A shares of Augere Holdings (Netherlands) B.V. ("Augere") pursuant to an investment agreement to invest up to US$50 million, reinforcing Harbinger Capital Partners' commitment to the broadband sector in all types of markets.

Combining Augere's global telecommunications experience and strong local partnerships with Harbinger Capital Partners' expertise will provide not only affordable broadband services to under-served consumers and communities in emerging markets, but also stimulate job growth, create new business sectors and provide opportunities for the next generation of entrepreneurs.

"Harbinger Capital Partners' investment in Augere offers a unique opportunity to join with a world class executive team, led by Sanjiv Ahuja, in bringing next generation wireless broadband solutions to emerging markets around the world," said Harbinger Capital Partners' Senior Managing Director Philip A. Falcone.

Augere provides fast, reliable broadband Internet service to emerging markets using Wimax technology. Augere currently has access to wireless spectrum in Pakistan, Bangladesh and Uganda. Licenses are also being actively pursued in countries across Africa, South Asia and Southeast Asia. Augere launched its first commercial network in Pakistan in July 2009, and to be closely followed by Bangladesh.

"Philip and the team at Harbinger understand the technology, scope and vision required to make broadband an engine of opportunity for the developing world," said Sanjiv Ahuja, Augere's founder and chief executive officer.

Prior to founding Augere, Mr. Ahuja was Chief Executive Officer of France Telecom's global mobile business, Orange. During his tenure at Orange, Mr. Ahuja doubled its subscriber base to 100 million subscribers. Before running Orange, he was Chief Executive Officer of Comstellar Technologies, President of Telcorida Technologies (formerly Belcore) and held several leadership positions at IBM where he began his career in 1979.