Swoop Holdings expects to earn $30 million in revenue from a new nbn TC4 infrastructure wholesale deal with nbn and IPTV provider Flip.
The three-year agreement will see Flip’s 26,000 broadband customer accounts moved onto Swoop’s network. The transition of Flip’s current subscribers is expected to be finalised by the end of January 2025.
Swoop expects the agreement will add $30m revenue once the current subscriber base is "fully transitioned". It also expects “further upside based on Flip’s growing customer base”.
“Flip has demonstrated a fantastic ability to grow in the consumer broadband space, along with their complementary services,” stated Swoop CEO Alex West.
“This is an extremely exciting time for Swoop as we continue to focus on high-speed, high margin, long-life, infrastructure style products that not only allow us to connect people and improve lives but deliver great returns for the business.”
Swoop Chief Revenue Officer David Michaels talked up the wholesaler’s systems. “After several years in development Swoop now has an automated order to connection stack that enables our wholesale customers to get on with what they do best, growing their customer base, whilst we take care of managing the critical connection process and network infrastructure,” Michaels stated.
“Flip has demonstrated exceptional growth and focus on delivering great customer experience and has chosen Swoop’s VISP (Virtual Internet Service Provider) product to further this success and continue growing their customer base.”
Swoop CTO Tom Berryman stated that “working with the Flip team has been really special as we have provided a fully automated migration quickly and smoothly during the holiday period.”
“Flip has the opportunity to leverage the unique technologies in our network stack and take advantage of the seamless connection processes we have built.
“The successful delivery at this scale provides significant confidence that we can continue to deliver this service at a larger scale.”
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