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Magnet Networks expands broadband service in Ireland to 700,000 homes
Added: (Fri Nov 25 2005)
Magnet Networks have signed an agreement with ESB Telecoms for the rights to use the company’s national fibre optic network for a ten year period. Under the agreement ESBT will provide connectivity between the cities of Galway, Cork, Limerick, Waterford and Portlaoise back to Magnet Networks central facility in Dublin. The service connects together Magnet Networks ADSL2+ network which leverages the Eircom local loop into individual homes to deliver the company’s home entertainment and communications services.
As a result, Magnet Networks are able to offer their services – Ireland’s fastest broadband, Digital TV and telephone – to all of the major urban centres in Ireland. It is anticipated that the national element of the network will be complete in the first two months of 2006 as work has already begun.
Magnet Networks offers Irish consumers the fastest broadband in Ireland with speeds up to 24Mb/s which is much faster than alternative offerings, as well as digital TV, and unlimited local and national calls. This “Triple Play” service bundle is a first in Ireland and Magnet are one of the pioneers of the technology in Europe.
Ken Peterson, Executive Chairman of Magnet Networks, said, "This is a key element of the national roll out plan for Magnet Networks. We are really shaking up the market with our Triple Play services and the deal with ESB Telecoms helps bring a genuine choice to consumers in cities outside of Dublin."
Commenting on the agreement, Niall Hogan, General Manager, ESB Telecoms, said, "This is one of the largest deals we have done and is further endorsement of our objective to provide the industry with dedicated wholesale services. We are very pleased to be involved with such an innovative company as Magnet Networks. The ESBT fibre network is having a positive impact on the Irish telecoms landscape, enabling operators to rapidly rollout leading edge service offerings. Magnet is further proof of this."
Ingvar Gardarsson, CEO, Magnet Networks, added, "When you interconnect ESB Telecoms’ national network with the government's Metropolitan Area Networks our customers could see that a national network could be quickly established with only a fraction of the cost of building the network independently. This foresight is generating payback for the country through Magnet Network's investment as a new player in the market with serious reach and a service offering that competes with not only the traditional telcos but also the TV companies like NTL and Chorus".
The deal follows the announcement of a €65 million network investment package announced by Magnet Networks in September. Charlie Ardagh, Marketing and Sales Director, Magnet Networks, concluded, “The level of investment being made by Magnet Networks is a clear sign of the impact we are making in the market. The company is making great strides and we are delighted to finally offer the Irish consumer real competition to the present incumbents.”
ENDS
For further information please contact:
Charlie Ardagh Kevin MacDermott
Marketing and Sales Director ESB Telecoms
Magnet Networks
Tel: 01 4364770 Tel. 017026009
Mob: 087 9353135 Mob. 087 9173409
charlie.ardagh@magnetnetworks.com kevin.macdermott@esb.ie
Editor’s notes
About Magnet Networks
Magnet Networks is an Irish company utilising the latest in broadband technology to provide residential and business customers with multi-play digital telephony, internet and television services. Magnet Networks is a fully owned subsidiary of US-based private equity investment company Columbia Ventures Corporation (www.colventures.com), holder of extensive telecoms interests on both sides of the Atlantic and elsewhere, and a sister company of Irish broadband wireless specialist service provider Leap Broadband (www.leap.ie). To assist with the design and implementation of both the FTTH and ADSL2+ network rollouts, the company has partnered with leading broadband solutions provider and systems integrator Industria (www.industria.com). Headquartered in Dublin, Magnet Networks launched its services to selected fibre-enabled homes at new developments in the city in December 2004, and is in the process of concluding further partnerships with property developers and house builders in the greater Dublin area and elsewhere, with a view to expanding its network.
About ESB Telecoms
ESB Telecoms, a wholly-owned subsidiary of ESB, is the leading independent provider of wholesale telecommunications services in the Irish market and was voted Best Network Infrastructure Company earlier this year at ICT 2005, Ireland's annual Information and Communications Technology event. ESB Telecoms’ network includes a 1300km nationwide fibre optic network, 14 Points of Presence (PoPs) and a portfolio of over 300 strategically positioned radio sites throughout the country. The network is connected to many of the e-net managed MANs as well as various key Data Centres in the Dublin area.