Swift Networks acquires Direct On PC
In a major development, Swift Networks has announced that it has acquired the long term evolution (LTE) or 4G business of Direct on PC (DoPC). With this transaction, the firm, which provides wireless fibre-based broadband services to private and corporate users, also acquires the wireless infrastructure and customers of DoPC in Lagos, Abuja and Port Harcourt. It has promised to keep the workers that are willing to remain on their jobs.
Speaking in Lagos, Nigeria’s commercial capital, the Managing Director of Swift Networks, Charles Anudu, said the acquisition marks a significant milestone in the firm’s quest to offer quality services to its customers.
“This acquisition is a significant milestone in our journey to advance our competitive position in the high speed broadband segment and our 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. The ultimate beneficiaries will be our current, future and DoPC’s erstwhile customers, who will now enjoy our improved network quality and exceptional focus on customer relationships. We will continue to invest in new technologies and process that deliver values that make sense to them,” he said.
Vice President of Bhojraj Chanrai Group and owner of DoPC, Mahesh Sadhuwani, said he was happy that the two firms had finally come together, because they share a common ideology about innovation and customer service. “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,” he said.
Financing for the transaction was provided by Union Bank and First City Monument Bank (FCMB) on terms not disclosed to the media, but it has received the blessing of the Nigerian Communications Commission (NCC).
The firm disclosed that it has contracted a consortium of equipment vendors and service providers under the leadership of Huawei, HIS, Helios, SWAP and Porta One to roll out a new fast broadband network in the cities of Lagos, Abuja and Port Harcourt based on the new LTE technology which is expected to run alongside current 4GWiMAX and fibre networks using some of the assets acquired from DoPC.
Source: BiztechAfrica
