Swoop has announced it has signed a deal with a "NASDAQ listed global technology company" to provide 250 kilometres of fibre optic infrastructure in greater Melbourne
The new contract has committed revenues of a minimum of $24 million and up to $36 million over the next 22 years.
The infrastructure will deliver fibre to key digital infrastructure areas and new developments to continue Swoop’s focus on core telecommunications infrastructure and residential high-speed services, the company said.
Swoop’s agreement with the global tech company provides access rights for 20 years, as well as ongoing operations and maintenance services.
The company said the partnership has secured a key customer and will start construction of the infrastructure immediately, targeting completion in 2026.
“We are extremely excited to be delivering a significant fibre network to the underserved areas of outer Melbourne including a number of key digital infrastructure areas and residential areas. This will allow us to continue to focus on high-speed residential internet services to new developments and new business customers," said Alex West, Swoop's CEO.
"This new network, built with modern techniques and state of the art fibre will provide these new housing regions with the required connectivity to not only key digital infrastructure areas but the rest of the world via Swoop’s existing international network."
"The revenue from the new key customer contract will be used to provide the majority of funding, with the balance of the funding from our existing cash and bank facilities on hand. We are confident that this fibre infrastructure will deliver strong revenue growth over the life of the asset."
“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.”
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