Magnet Networks ESB Telecoms Join Forces for 700,000 Irish Homes
ESB Telecoms and Magnet Networks have signed an aggreement for the rights to use, for a ten year period, the company`s national fiber optic network. The cities of Galway, Cork, Limerick, Waterford and Portlaoise will be provided with connectivity between them by ESBT. These connections will run back to Magnet Networks central facility in Dublin. Magnet Networks ADSL2+ network will be connected to Eircom`s local loop in order to reach individual homes to deliver the company`s home entertainment and communications services.
As a result, Magnet Networks are able to offer their services ? Ireland?s fastest broadband, Digital TV and telephone ? to all of the major urban centers in Ireland. It is anticipated that the national element of the network will be complete in the first two months of 2006 as work has already begun. Magnet Networks offers Irish consumers the fastest broadband in Ireland with speeds up to 24Mb/s which is much faster than alternative offerings, as well as digital TV, and unlimited local and national calls. This `Triple Play` service bundle is a first in Ireland and Magnet are one of the pioneers of the technology in Europe.
The deal follows the announcement of a ?65 million network investment package announced by Magnet Networks in September. Charlie Ardath, Marketing and Sales Director, Magnet Networks, concluded, `The level of investment being made by Magnet Networks is a clear sign of the impact we are making in the market. The company is making great strides and we are delighted to finally offer the Irish consumer real competition to the present incumbents.`
Ken Peterson, Executive Chairman of Magnet Networks, said, `This is a key element of the national roll out plan for Magnet Networks. We are really shaking up the market with our Triple Play services and the deal with ESB Telecoms helps bring a genuine choice to consumers in cities outside of Dublin.` Ingvar Gardarsson, CEO, Magnet Networks, added, `When you interconnect ESB Telecoms` national network with the government`s Metropolitan Area Networks our customers could see that a national network could be quickly established with only a fraction of the cost of building the network independently. This foresight is generating payback for the country through Magnet Network`s investment as a new player in the market with serious reach and a service offering that competes with not only the traditional tel cos but also the TV companies like NATL and Chorus.`
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