MAGNET NETWORKS has launched its fibre-to-the-home services in Britain, following its acquisition of a 90 per cent stake in fibre broadband provider Velocity 1 from Quintain Estates and Development.
Quintain will retain a 10 per cent shareholding in the business as joint venture partners with Magnet.
Services will initially be offered at Quintain’s urban regeneration scheme at London’s Wembley City, with plans for further deployment in the Greenwich peninsula area of London.
Velocity 1 currently provides services to 500 apartments and a new 660-bed student accommodation complex beside Wembley Stadium, as well as to Wembley Arena and other local businesses. The new venture will use Magnet Networks’s Dublin offices as a shared services centre.
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