Industria announces that it has finalized a long term agreement with Quintain Estates and Development PLC (Quintain) one the UK’s leading property developers to build a national FTTH operator specialising in new build residential and commercial properties. The new operator in which Industria is a joint venture partner will be called Velocity1.
Industria will design, build and operate Velocity1 as part of the agreement to enable Quintain to enter the telecommunications market without the distraction and associated cost of assembling and building the expertise internally. Industria expects that this property developer partnership model will be replicated with other leading property developers in other markets.
Velocity1 is planned to be a full triple-play operator and deliver the fastest broadband speeds available anywhere in the UK as well as premium TV content and low cost fixed line phone services. The project will start as a pilot project in the north London area of Wembley, but will expand to around 10 cities by the end of 2009.
“The Velocity1 is the fourth operator we will have built in five years and it is an important milestone as this is our first major project in the UK” says Industria Media’s COO Elli Gudmundsson. James Saunders, Towns as Businesses Director “We selected Industria as our partner because they are one of the very few companies in the world that have a solid track record in building and operating fibre operators ”.
Velocity1 will be designed with the Industria Digital Living philosophy and with an ‘open access’ architecture, with third party service providers able to integrate their own services into the Velocity1 platform.
James Saunders of Quintain comments: “The scale of Quintain’s building plans enables us to embed and operate next generation technology for homes and businesses in a highly cost effective and streamlined manner. Telecommunications is now a significant part of our business model.”
Velocity1 is planned for launch in February 2009 with pre-launch testing from November 2008.
For further information, please contact:
[e] media@industria.com
Industria Media is a UK based specialist fibre and wireless IP systems integrator that has built four European telecom operators in the last five years. Industria provides turnkey services to design, build and operate FTTP and wireless networks that provide advanced services to consumers and businesses. Industria's holdings include Zignal, a pioneer in interactive TV solutions and Quartus, a leading fibre optic network builder and systems integrator in Dublin. www.industria.com
Quintain Estates and Development plc is a property investment and development
company, listed on the London Stock Exchange. Quintain operates through three
businesses: fund management; investment portfolio; and special projects,
consisting of the company’s larger and typically complex assets – such as