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Power-line ISP receives investment from Google

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On July 7, 2005, 8:07 PM

Current Communications Group, a power-line broadband service provider, has reportedly received investment money from Google, as well as Hearst and Goldman Sachs. The ISP announced it will use the money to expand its services in the US and overseas, in order to provide voice, video and data services through power lines.

Although Current did not specify the amount it received from the search king, the media giant and the investment banker, The Wall Street Journal reported that the three companies have invested roughly $100 million in the start-up. Last year, Current and Cinergy Broadband, a subsidiary of energy company Cinergy, announced that their two joint ventures had received $70 million from Cinergy, EnerTech Capital and Liberty Associated Partners.

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