This one's been a long time in the making, but the deal is finally done. Clearwire and Sprint Nextel have gleefully announced that the transaction to combine their next-generation wireless internet businesses is complete, and beers are on the two of 'em this evening. On the real, the agreement dictates that Sprint hand over all of its 2.5GHz spectrum and WiMAX-related assets (including XOHM) to Clearwire; additionally, Clearwire has received a $3.2 billion cash infusion from Comcast, Intel, Time Warner Cable, Google and Bright House Networks. Details beyond that are scant, though we are told that the terms "originally announced on May 7, 2008" are the ones being abided by, and the new company will retain the Clearwire name and its Kirkland, Washington headquarters.

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Clearwire and Sprint close deal to combine WiMAX businesses