• by Shankar Gupta , July 8, 2005

Search giant Google, financial institution Goldman, Sachs & Co., and publishing company Hearst Corporation are among the investors in the Broadband over Power Line company Current Communications Group. The companies involved declined to disclose the financial details, but The Wall Street Journal reported Thursday that the total investment was nearly $100 million.

Broadband over Power Line technology allows for the establishment of high-speed, two-way broadband connections through regular electrical outlets, with no extra special equipment. Although Broadband over Power Line isn't yet widely available, Current Communications provides broadband service in Ohio and Northern Kentucky through a partnership with Cinergy Corp., a Cincinnati-based utilities company.

A Google spokesman said only that "Google is very excited to have a relationship with Current Communications Group to help promote better access to the Internet." The spokesman declined to answer any other questions about the deal.

Current Communications' latest round of financing also included investments from two older investors--Liberty Media Corporation and the Berkman Family.