WiMax was a superior technology in terms of speed (roughly 25Mbit/s) for a few years (2005-2009), and it pioneered some new technologies such as MIMO. But the mobile version of WiMax (802.16m), intended to compete with GSM and CDMA technologies, was too little/too late in getting established, and by the time the LTE standard was finalized in December 2008, the fate of WiMax as a mobile solution was doomed and it was clear that LTE (not WiMax) would become the world's new 4G standard. The largest wireless broadband partner using WiMax, Clearwire, announced in 2008 that they would begin overlaying their existing WiMax network with LTE technology, which was necessary for Clearwire to obtain investments they needed to stay in business.