Swift Networks acquires the 4G business of Direct on PC

After 18 months painstaking discussions, Swift Networks Limited, a leading provider of wireless and fibre-based broadband services to businesses and residential users on Wednesday announced the acquisition of the 4G business of Direct on PC (DoPC) .

With to this transaction, Swift Networks has acquired all the wireless infrastructures and customers of Direct on PC in Lagos, Abuja and Port Harcourt.

The company also said it has contracted a consortium of equipment vendors and service providers to rollout a new superfast broadband network in the coming months.

Speaking during a press conference to announce the completion of the acquisition, Mr. Charles Anudu, managing director, Swift Networks Limited, described the feat as a milestone to the Network’s journey to competitive position in the high quality broadband segment and 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 operations will accrue to our various stakeholders.

“The ultimate beneficiaries will be our current, future and DoPC’s erstwhile customers who will continue to invest in new technologies and processes that deliver values that make sense to them,” he said.

Anudu added that Swift Networks and DoPC are perfect fit as they share a common passion for innovation and customer satisfaction.

On his part, Mahesh Sadhuwani, vice president of Bhojraj Chanrai and owners of Direct on PC, said he was happy the Company found the Swift Networks home for its 4G WiMAX customers, adding that they (the Customers) will join an operator that has become the undisputable leader in both network quality and customer service in its category”.

Meanwhile, the financing for the transaction provided by Union Bank and FCMB were not disclosed.

Similarly, Swift Networks has contracted a consortium of equipment vendors and service providers led by Huawei, HIS, Helios, SWAP and Porta One to rollout a new superfast broadband network in the cities of Lagos, Abuja and Port Harcourt, based on the new 4th Generation Long Term Evolution (4G LTE) technology.

The LTE is expected to run alongside Swift Networks’s current 4G WiMAX and fibre networks, using some of the assets from the DoPC acquisition.

Mr. Chukwuma Okoye, chief operating officer of the Network said: “LTE is an initial for long term evaluation, marketed as 4G LTE, a standard for wireless communication of high-speed data for mobile phones and data terminals. It is designed to increase the capacity and speed using a different radio interface together with core network improvements. Swift’s LTE networks will go live from the third quarter of this year.

“We are going to ramp up our access speed offering with this 4G LTE rollout to further improve the availability and penetration of high quality broadband services to more homes and businesses. With our 4G LTE services, more businesses and homes will become more productive and competitive as they are able to do more at real 4G speeds”.

To this, end the network promises that workers in the same office and members of the same family will also be able to share the same 4G connection, make and receive clear voice calls and stream high definition video and music content at affordable prices, he added.