Swoop enters dark fibre market

Fixed wireless and wholesale network infrastructure provider Swoop Holdings Limited (Swoop) has agreed to acquire the dark fibre network assets and customers of iFibre — an Adelaide-based company providing network connectivity to businesses in South Australia.

Swoop has acquired 34 km of fibre in the Adelaide CBD and outer metro areas, connecting key data centres and commercial buildings.

The $1.5m acquisition will be funded from existing cash reserves and is expected to complete on 31 January 2022.

“Acquiring iFibre’s dark fibre network is a great opportunity to commence our investment in this space. The 34 km network covers the major interconnection points and data centres as well as the CBD of Adelaide,” Swoop CEO Alex West said.

“Predominantly built in its own ducts and with low utilisation, the acquisition represents significant value for Swoop, compared to us beginning an organic build.

“Having previously been responsible for fibre operations at Vocus, we know both the technical and business aspects of dark fibre incredibly well. The team and I are excited to be entering this market again with a network that is immediately ready for sale by our teams.”

Image credit: ©stock.adobe.com/au/Sashkin