SWIFT NETWORKS Limited, a provider of wireless and fibre-based broadband services to business and residential users, is raising the competition bar among service providers. This follows the company’s acquisition of the 4G business of Direct On PC and the issuance of technical upgrade contracts to a consortium of Huawei, IHS, Helios and others.
Consequently, Swift Networks is rolling out LTE services in phases around the country, starting with Lagos, Abuja and Portharcourt which go live in the weeks to come. The attendant economies of scale and technology advancement will enable Swift Networks to reduce service cost to customers.
4G LTE technology offers much higher bandwidth (speed of data transfer), lower latency (faster response times from the network) and improved spectrum efficiency, increasing overall network capacity. In practice, this allows more applications to be used on mobile devices, out of the home or office.
It likewise allows for faster or real-time sharing of large files and streaming media and near-immediate delivery of time-sensitive data, interaction or transactions.
With its acquisition of the 4G business of Direct On PC, SWIFT will acquire all the wireless/ 4G infrastructure and co-related customers of Direct On PC in Lagos, Abuja and Port Harcourt. The satellite and enterprise business of DOPC remain unaffected by this transaction.
“This acquisition is a significant milestone in our journey to advance our competitive position in the high quality broadband segment and footprint in the Nigerian market. It will improve our customers’ broadband experience and overall operating results as the cost efficiencies arising from the economies of scale of the streamlined operation will accrue to our various stakeholders,” said Charles Anudu, Managing Director of SWIFT Networks.
“The ultimate beneficiaries will be our current, future and DOPC’s erstwhile customers who will now be served by a network with a larger coverage and exceptional focus on customer relationships. We will continue to invest in new technologies and processes that deliver values that make sense to them”.
For his part Mahesh Sadhwani, the Vice Chairman of the Bhojraj Chanrai Group and Owners of Direct On PC said
“SWIFT and DOPC are a perfect fit, as we share a common passion for innovation and customer satisfaction. I am happy that we found the SWIFT home for our 4G WiMAX customers as they will join an operator that has become the undisputed leader in both network quality and customer service in its category”.
While the financing for this transaction was provided by Union Bank and FCMB, the financial terms were not disclosed. This transaction has received the full approval of the Nigerian Communications Commission (NCC).
SWIFT Networks is also pleased to announce that it has contracted a consortium of equipment vendors and service providers led by Huawei, IHS, Helios, SWAP and Porta One, to rollout a new superfast broadband network in the cities of Lagos, Abuja and Port Harcourt, based on the new 4th Generation Long
