3rd Aug 2016 07:21
LONDON (Alliance News) - CityFibre Infrastructure Holdings PLC said it has expanded an existing partnership with Exa Network after signing a new agreement worth GBP3.3 million to the London-listed company over a six-year term.
CityFibre has signed a launch partner agreement that will see Exa Networks deliver 250 school and business connections under an existing national framework agreement that is focused around CityFibre's Sheffield network, also benefiting nearby Doncaster and Rotherham.
The agreement involves the networks acquired by CityFibre back in January and takes the number of connections sold by CityFibre on those networks to 1,450, with the total value of those contracts worth GBP22.1 million.
"We're delighted to extend our framework agreement with Exa into Sheffield, Doncaster and Rotherham. With this latest call-off, we demonstrate our ability to leverage our expanded footprint and drive commercialisation of the acquired assets at pace, bringing 10 cities into commercial production within seven months of acquisition close. It also brings us within striking distance of 4,000 connections sold year to date", said Chief Executive Greg Mesch.
CityFibre said its capital expenditure coverage is currently in line with its guidance.
CityFibre shares were up 4.1% to 61.95 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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