Thursday, 21 September 2017

CityFibre announces £7m of new business

CityFibre
Wednesday 11 May 16

CityFibre (AIM: CITY), a leading designer, builder, owner, and operator of fibre optic infrastructure in UK towns and cities, today announces new service provider contracts signed on the Milton Keynes and Northampton metro networks, acquired as part of the KCOM asset acquisition in January 2016…

CityFibre (AIM: CITY), a leading designer, builder, owner, and operator of fibre optic infrastructure in UK towns and cities, today announces new service provider contracts signed on the Milton Keynes and Northampton metro networks, acquired as part of the KCOM asset acquisition in January 2016.

The contracts, with a combined initial value of £7.0m, are with DBfB, a Northampton-based provider of connectivity, communications and IT solutions to the business segment, and Exa Networks, the Bradford-based specialist in connectivity provision to both the education and business sectors, with whom CityFibre recently announced contracts on the acquired footprints in Leeds and Bradford.

Under the six-year agreements, DBfB and Exa will commit to provide connectivity to 500 businesses and schools across Milton Keynes and Northampton.

Since closing the acquisition of KCOM Group plc’s national network assets on 18 January 2016, CityFibre has sold 950 connections across five of the acquired metro networks and added £15.7m in initial contract value covering both the business and public sector market segments.

Today’s contracts also take CityFibre past the milestone of 5,000 total customer connections sold since the company’s inception.

Greg Mesch, Chief Executive of CityFibre, commented:

“I’m very pleased to be able to announce further rapid progress in commercialising the acquired footprint. In a little under four months, we’ve added £15.7m in new contracted revenues covering 950 new committed connections in five cities, as well as capacity sales on the national long distance network. This latest deal delivers anchor customers in two market verticals, adding DBfB as our 47th service provider partner, and expanding our existing relationship with Exa Networks. The combined contract value of the new business added on the acquired assets to date, including the minimum revenue commitment from KCOM, now totals £40.7m.”


View more of the latest press releases from across the industry or post your company's news.

Please enable JavaScript to view the comments powered by Disqus.

Newsletter signup

Quickly get on board and up to date with the telecoms industry