26th Nov 2015 09:42
LONDON (Alliance News) - CityFibre Infrastructure Holdings PLC on Thursday said it has entered the Glasgow market for its Gigabit City project after signing a ten-year deal with Inverness-based internet service provider HighNet.
Under the deal, HighNet will migrate 100 of its existing customers onto a new fibre network to be constructed by CityFibre in central Glasgow. The first phase of the Glasgow programme is worth GBP3 million.
Separately, HighNet has also committed to migrate a minimum of 50 customers into the CityFibre network currently under construction in Aberdeen.
Following on from contract wins in Newport and Edinburgh, Glasgow is the third new city expansion announced during financial 2015.
"This announcement marks our third Gigabit City project in Scotland, and upon its completion, CityFibre will have an established network presence in Scotland's four largest cities, making us the largest wholesale fibre infrastructure provider in the country after BT Openreach," Chief Executive Greg Mesch said in a statement.
Shares in CityFibre were trading down 0.5% at 70.32 pence Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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