SWIFT Networks Acquires Chromecom, Plans 1,000 Additional 4G LTE Base Stations in Lagos

Mergers, Acquisitions and Financial Results

SWIFT Networks Limited, Nigeria’s leading provider of high-speed broadband and data services to enterprise and consumer customers has completed the acquisition of the spectrum of Chromecom (subsidiary of Monarch Communications Limited), another licensed operator.

With over 100,000 existing WiMAX customers expected to be migrated to the new 4G LTE network in the third quarter of 2015, the move is said to boost the broadband speed for its existing customers and additional capacity for prospective customers as part of its strategic positioning of high-speed broadband and data services in the country.

The company also announced that it has concluded arrangements for the deployment of over 1,000 4G Long Term Evolution (4G LTE) base stations in Lagos State to provide its teeming customers with unmatched broadband experience.

“With the additional spectrum from the Chromecom acquisition, the refarming of our WiMAX spectrum for 4G LTE services and the additional base stations deployment, we will deliver an ultra-fast broadband experience comparable to the best anywhere in the world,” said Charles Anudu, Managing Director of SWIFT Networks Limited in a statement.

Anudu added that the company believes in pursuing strategic initiatives in its constant quest for better service delivery to its valued customers as it continuously reinforces its brand essence and value proposition to its teeming customers.

In June 2013, SWIFT acquired the 4G business of Direct On PC (DOPC), which included the wireless, 4G infrastructure and co-related customers of Direct On PC in Lagos, Abuja and Port Harcourt. To this end, it is expected to expand its services into Abuja and Port Harcourt in a few months, following this recent acquisition.

“Delaying our expansion to Abuja and Port Harcourt till now was deliberate to ensure that we would have first nailed down the Lagos market properly and then mustered the resources, human and otherwise, experience, systems and processes to ensure that our success is replicated in these new markets,” says Chuma Okoye, the company’s Chief Operating Officer.

For customers, there will be significant benefits, says Philip Sonibare, the company’s General Manager, Consumer Sales and Marketing including a free upgrade to a much faster and more efficient and stable network allowing customers to exchange their 4G WiMAX modem without any cost.

The deployment of more of its spectrum and base station resources to add more capacity to the network, according to Sonibare, will enable the company to improve the experience of its existing 4G LTE customers.

Source: Techloy 11 June 2015