Swoop has announced a significant contract with a NASDAQ-listed global technology company to develop fibre infrastructure in Greater Melbourne. The deal, valued at up to AUD $36 million, represents the largest agreement in the telecommunications company's history.
The contract guarantees a minimum revenue of AUD $24 million over the next 22 years. It includes installing fibre to new residential developments and continuing Swoop's strategy to enhance high-speed services and digital infrastructure in underdeveloped areas. Under the terms of the agreement, the global tech company will receive access rights for 20 years, alongside ongoing operations and maintenance services.
Swoop is a nationwide provider of data and voice services catering to wholesale, business, and residential customers. Emphasising its proprietary fibre and fixed wireless infrastructure, Swoop's network is engineered to offer ultra-reliable, high-capacity, and adaptable telecom services.
Alex West, CEO of Swoop, said, "We are extremely excited to be delivering a significant fibre network to the underserved areas of outer Melbourne, including a number of key digital infrastructure areas and residential zones. This will allow us to continue focusing on high-speed residential internet services for new developments and new business customers."
The planned network will utilise modern techniques and advanced fibre technology to connect new housing regions to both key digital infrastructure zones and the broader global network, which Swoop currently operates.
West elaborated on the project's funding, noting, "The revenue from the new key customer contract will provide the majority of funding, with the remaining balance coming from our existing cash and bank facilities. We are confident that this fibre infrastructure will deliver strong revenue growth over the life of the asset."
He continued, "This is an extremely exciting time for Swoop as we continue to concentrate on high-speed, high-margin, long-life, infrastructure-style products that not only allow us to connect people and improve lives but also deliver great returns for the business."
The partnership aims to deploy over 250km of fibre optic infrastructure throughout Greater Melbourne, with a target completion date in 2026.
The successful execution of this contract will significantly enhance digital infrastructure in Greater Melbourne, aligning with Swoop's commitment to expanding high-speed internet services in underdeveloped areas. By leveraging modern fibre technology and strategic partnerships, Swoop aims to facilitate better connectivity and support future growth in both residential and business sectors. This project underscores Swoop's role in advancing Australia's telecommunications landscape and its dedication to meeting the evolving needs of its customers.
