Home Big Story Swift Networks completes purchase of Monarch Communications unit

Swift Networks completes purchase of Monarch Communications unit

Swift Networks completes purchase of Monarch Communications unit
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Swift Networks Limited, one of Nigeria’s leading ISPs says it has completed the purchase of Chromecomm Ltd., a subsidiary of Monarch Communications Limited), to advance its broadband market leadership in the country.
Chukwuma Okoye, Chief Operating Officer, Swift Networks Limited, who announced the final closure of the deal, which was initially made public October last year, say the technology company is expanding its Lagos operations by deploying over 1000 new G LTE base stations in the nation’s commercial capital.
The completion of the Monarch Communications unit follows a similar buy of the 4G business of Direct On PC, owned by the Bhojraj Chanrai Group and a leading provider of terrestrial and satellite-based broadband Internet and intranet services in Nigeria.
Just like when it bought the 4G business of Direct On PC, Swift Networks did not disclose the financial details of the purchase of Chromecomm Ltd.

[blockquote right=”pull-right” cite=”Charles Anudu, Managing Director of Swift Networks”]“This acquisition is a significant milestone in our journey to advance our 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 operation will accrue to our various stakeholders” [/blockquote]

Charles Anudu, Managing Director / CEO, Swift Networks Limited
Charles Anudu, Managing Director / CEO, Swift Networks Limited
According to the COO of Swift Networks, the company has finally closed the deal to acquire 15MHz of spectrum in the 3.5GHz band from Chromecomm Ltd. (a subsidiary of Monarch Communications Limited).
“This, in addition to our 20MHz of 3.5GHz spectrum will be utilised to decongest our existing 4G LTE network all across Lagos State from October, 2015”, Okoye says.
Under the plan, Swift Networks says it has ordered the equipment for the migration of over 100,000 WiMAX customers to its expanded 4G LTE network to be undertaken from October, 2015.
“We hereby reconfirm that we would swap out all the current 4G WiMAX modems to the faster and more efficient 4G LTE modems free of charge. Further communication on the procedure for this migration will be sent to all our relevant customers in due course”, he adds underscoring that the network upgrade will be expanded beyond Lagos to Abuja and Port Harcourt.
Okoye also hinted in an update to its customer base that Swift Networks has ordered over 1,000 additional 4G LTE base stations to be deployed in Lagos State alone during the last quarter of this year and, “expansion of our 4G LTE Broadband services to both Abuja and Port Harcourt in the same time frame.”
Meanwhile, under the terms of the Direct On PC unit buy, Swift acquired all the wireless/ 4G infrastructure and co-related customers of Direct On PC in Lagos, Abuja and Port Harcourt. The satellite and enterprise business of DOPC remain unaffected by this transaction.
“This acquisition is a significant milestone in our journey to advance our 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 operation will accrue to our various stakeholders,” Charles Anudu, Managing Director of Swift Networks, said at the time.
“The ultimate beneficiaries will be our current, future and DOPC’s erstwhile customers who will now be served by a network with a larger coverage and exceptional focus on customer relationships. We will continue to invest in new technologies and processes that deliver values that make sense to them.”
“SWIFT and DOPC are a perfect fit as we share a common passion for innovation and customer satisfaction. I am happy that we found the SWIFT home for our 4G WiMAX customers as they will join an operator that has become the undisputed leader in both network quality and customer service in its category”, Mahesh Sadhwani, the Vice Chairman of the Bhojraj Chanrai Group and Owner of Direct On PC, added at the time the deal was closed.
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