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MVDS is an acronym for terrestrial "Multipoint Video Distribution System".
MVDS currently is a part of broader MWS (Multimedia Wireless System) standards. In European Union MWS works in 10.7–13.5 and 40.5–43.5 GHz frequency bands.
Research for 42 GHz frequency has been done under the European Commition EMBRACE (Efficient Millimetre Broadband Radio Access for Convergence and Evolution) initiative.