14 Jan 2016 07:00
For immediate release | 14 JANUARY 2016 |
CITYFIBRE INFRASTRUCTURE HOLDINGS PLC
('CityFibre' or the 'Group' or the 'Company')
BRISTOL SELECTED AS NEXT GIGABIT CITY
Announcement of first new service provider agreement on newly acquired footprint
CityFibre (AIM: CFHL), a leading designer, builder, owner, and operator of fibre optic infrastructure in UK towns and cities, is pleased to announce the signing of an agreement with Triangle Networks Limited ('Triangle'), a Somerset-based business segment ISP, as its launch partner for the network asset it has agreed to acquire from KCOM Group plc in Bristol.
The agreement will be the first new service provider commitment on CityFibre's expanded footprint following the £90 million acquisition of assets from KCOM Group plc, which is expected to complete on 18 January 2016.
The agreement with Triangle, which is conditional on completion of the acquisition, is for a minimum of 100 committed business connections on the 82-kilometre asset in Bristol and its surrounding area. The six-year commitment carries a total contract value ('TCV') of £1.54 million, and will result in Bristol being the first new Gigabit City launched on CityFibre's acquired footprint.
Greg Mesch, Chief Executive of CityFibre, commented:
"We're delighted to welcome Triangle Networks to our growing ecosystem of service provider partners, which in turn allows us to announce that Bristol will be the first of many new Gigabit City launches to come on our expanded footprint of 36 cities across the UK.
"We're particularly pleased to announce this agreement only two days after our shareholders overwhelmingly supported our acquisition of the KCOM Group national network infrastructure assets. This demonstrates our ability to quickly commercialise the acquired assets in line with our proven business model.
"Moreover, it once again underlines the pent-up demand across the UK for true wholesale end-to-end fibre connectivity serving all market verticals, and we look forward to working closely with the Triangle team to maximise the opportunity in Bristol and beyond."
For further information, please contact:
CityFibre Infrastructure Holdings plc | www.cityfibre.com |
Greg Mesch, Chief Executive Officer | Tel: 0845 293 0774 |
Terry Hart, Chief Financial Officer |
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James Enck, Head of Investor Relations | Tel: 0333 150 6283 |
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finnCap (Nomad and Joint Broker) | www.finncap.com |
Stuart Andrews / Christopher Raggett (Corporate Finance) | Tel: 020 7220 0500 |
Simon Johnson (Corporate Broking) |
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Liberum (Joint Broker) | www.liberum.com |
Steve Pearce / Steven Tredget / Richard Bootle | Tel: 020 3100 2000 |
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Vigo Communications | www.vigocomms.com |
Jeremy Garcia / Fiona Henson | Tel: 020 7016 9570 |
About CityFibre:
CityFibre enables gigabit connectivity through designing, building, owning, and operating fibre optic network infrastructure. It is the largest independent wholesale provider of fibre infrastructure to mid-sized cities and major towns across the UK, providing gigabit-capable infrastructure for enterprise and public sector organisations, service providers, mobile network operators and businesses.
The Group owns and operates over 600 route kilometres of local access networks serving over 1,000 customer connections in 61 towns and cities in the UK, including Aberdeen, Bath, Bournemouth, Coventry, Derby, Doncaster, Dundee, Edinburgh, Huddersfield, Kingston upon Hull, Newcastle, Newport, Peterborough, Sheffield, and York.
To date the Company has launched six Gigabit City projects in York, Peterborough, Coventry, Aberdeen, Edinburgh and Glasgow, where city-wide pure fibre networks bring world-class Internet connectivity and the benefits of gigabit speeds to every aspect of the city's community. The Company has also delivered the UK's first dark fibre-based Fibre-to-the-Tower network in Kingston upon Hull, under a national framework agreement with MBNL, Three UK and EE.
CityFibre is also a founding member of a joint venture with TalkTalk and Sky. Established in early 2014, the collaboration aims to prove the viability of gigabit speed Fibre-to-the-Premises (FTTP) networks and services for homes and businesses. Work is currently underway to connect tens of thousands of homes and businesses in York to a future-proof FTTP modern digital infrastructure.
CityFibre is based in London, United Kingdom, and its shares trade on the AIM Market of the London Stock Exchange (AIM: CFHL). To find out more, please visit: www.cityfibre.com