Punakaiki Fund investing in local provider Vibe Communications
Posted on 20-Jun-2014 13:55
Filed under: News
Wholesale and corporate telecommunication services provider Vibe Communications has received a growth capital investment from Punakaiki Fund.
The investment will allow Vibe Communications to continue their rapid growth in serving businesses in New Zealand and Australia.
Punakaiki Fund’s Director, Lance Wiggs, will join owners Davey Good and Barry Murphy on the Vibe Communications board.
CTO and Sales Director Davey Goode said, “We first met Lance and Chris when they were with Pacific Fibre. They are amongst the few business people who really understand our business. We are moving fast and it’s great to have their experience and investment to ensure we continue to keep a solid balance sheet and financial discipline as we grow.”
Vibe Communications grew over 70% in the last year, after 100% growth the year before.
Wiggs believes they have many years of high growth ahead of them. “Vibe have a great market niche delivering tailored solutions to corporates and other ISPs.
They are over-delivering with the quality of their product” said Wiggs. “Davey, Barry and lead architect Callum Barr are all technically very strong, with Vibe employing more engineers than support staff to retain the quality of their products and service.”
Vibe’s network has additional points of presence in both Australia and the USA. They purchase capacity off Southern Cross Cable Networks making them one of five major NZ transit providers.