Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
REANNZ announces capacity agreement with Pacific Fibre
Posted on 20-May-2011 10:03. | Tags Filed under: News.



REANNZ and Pacific Fibre announced today that they have agreed Key Commercial Terms for a substantial contract to supply international capacity on the new Pacific Fibre cable system.

Donald Clark, REANNZ CEO, said “We are excited to secure an anchor tenancy providing long-term capacity for the research, education and innovation communities in New Zealand. Pacific Fibre will provide us with effectively unconstrained capacity to Australia and the USA from mid-2014, allowing us to collaborate with the rest of the world on an equal footing.”

REANNZ is investing its own operational funding, along with NZ$15 million that the Crown granted to support a capacity purchase on a new submarine cable system. This commitment is a result of a recent, open tender process.

Pacific Fibre’s CEO Mark Rushworth said “REANNZ is our first announced customer, and we are delighted to be working with the REANNZ team and the KAREN community. We couldn’t be more aligned with their goals. We are helping REANNZ offer extremely high capacity connections to the community, and that capacity will grow over time. The proposal also more than meets the Crown’s requirement for one new cable - as we will be providing two.”

The deal will see the amount of capacity available to KAREN subscribers rise from today’s 1Gb/s to an initial 40Gb/s and then to 160Gb/s over time. This step change is possible due to the superior economics of the new cable system and through restricting the use of the capacity to the KAREN community.
“At current market rates, the value of the capacity commitment is over NZ$400 million, though obviously we are paying far less than that,” said Donald Clark. “This is a long term commitment, and one that recognises our support for the Crown’s policy goals of increased international cable competition at the right stage in the market process.”

REANNZ and Pacific Fibre are now negotiating a final contract based on the signed Key Commercial Terms. As with all major transactions REANNZ enters into, this process will be subject to the approval of REANNZ shareholders.

Neither party is disclosing additional information about the deal until contracting is completed.



comments powered by Disqus




Trending now »

Hot discussions in our forums right now:

2Degress are introducing a credit card fee
Created by reven, last reply by jfanning on 23-Jan-2017 15:14 (36 replies)
Pages... 2 3


The President Of The USA: Donald Trump
Created by TimA, last reply by freitasm on 23-Jan-2017 15:12 (1921 replies)
Pages... 127 128 129


Car data logging.
Created by TimA, last reply by TimA on 23-Jan-2017 14:58 (23 replies)
Pages... 2


Who's Liable for The Excess?
Created by networkn, last reply by mdooher on 23-Jan-2017 15:01 (21 replies)
Pages... 2


New Ford Mustang or Holden Commodore or alternatives
Created by MikeB4, last reply by driller2000 on 21-Jan-2017 12:39 (63 replies)
Pages... 3 4 5


Xtra email no longer receives on Outlook 2003 / Outlook 2011 for MAC
Created by lNomNoml, last reply by mattwnz on 23-Jan-2017 13:38 (52 replies)
Pages... 2 3 4


$1160 for a car battery??!!
Created by jonathan18, last reply by BlinkyBill on 23-Jan-2017 11:16 (66 replies)
Pages... 3 4 5


Wireless vs VDSL speeds?
Created by danepak, last reply by Jase2985 on 21-Jan-2017 19:04 (11 replies)