World’s first internet 3G auction
first internet 3G auction
MEDIA RELEASE FOR IMMEDIATE USE 20 July 2000
World's first Internet 3G auction underway
Over 1600 lots of frequency spectrum, including six so-called '3G' licenses, are currently being auctioned by the government of New Zealand using a state of the art system from iBid™ Spectrum Auction Services.
Now in its 17th round, the auction is expected to fetch more than NZ$40 million before its completion. Seventeen bidders are competing for the 2GHz frequency in an auction conducted entirely via the Internet, enabling bidders in other parts of the world to participate. Sale of this spectrum will allow the successful bidders to provide a range of mobile and broadband wireless services in New Zealand.
The technology behind the system, first used in 1998 to auction LMDS frequencies, was developed by Netlogic, a New Zealand-based hi tech company, for that government's first electronic auction of spectrum and has since been used in several successful auctions. The iBid™ Spectrum Auction Service uses a system that bidders securely access over the Internet using a standard Web browser.
An auction of this size conducted using traditional methods would be a very complicated and lengthy process. Using iBid™, this auction is expected to be completed within days. During the auction, bidders are able to efficiently review the results of their participation thereby allowing better decisions to be made. Bidding results can be viewed almost immediately following each round on the Internet at: http://auction.med.govt.nz
Note to Editors: iBid™ is a U.S.-based internet auction company formed in 1999 through a joint venture between NetLogic Holdings Ltd., a New Zealand-based technology company, HCA Enterprises Worldwide LLC., and APCO Worldwide. The company was established for the purpose of marketing, managing and executing its turn-key internet auction services for client consulting firms and client governments worldwide. The iBid™ system was initially developed and implemented by NetLogic for the Government of New Zealand for the world's first electronic auctions of radio frequency spectrum. The current auction follows three successfully completed auctions and future auctions are planned utilizing this method.
Ø For further information, please contact: Bryce Dixson, NetLogic, 64 4 472 1121
Carrara Communications Ltd Public Relations / Communications P O Box 128-183 Remuera, Auckland, NZ Tel: 64 9 579 7270. Fax 64 9 579 7807 mobile: 021 80 4749
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