Satellite Solutions Wldwide Grp PLC Contract Update (2635U)

TIDMSAT

RNS Number : 2635U

Satellite Solutions Wldwide Grp PLC

23 October 2017

Satellite Solutions Worldwide Group plc

("SSW" or the "Company")

Completion of Government funded Sør-Trøndelag fixed wireless broadband project

Satellite Solutions Worldwide Group plc (AIM: SAT), the global leader in delivery of alternative super-fast broadband services, announces that it has successfully completed the network build out and commissioning of a new Government funded super-fast fixed wireless network in the Sør-Trøndelag area in Norway ahead of schedule.

Since winning the contract, as announced by SSW on 4 April 2017, Breiband AS, which is a wholly owned subsidiary of SSW and is the one of the largest alternative broadband provider in Scandinavia, has successfully built and tested the network with the first customers being added in mid-October. The original contract award of c.GBP0.5m (NOK5.6m) is the first of several Government backed initiatives that Breiband will be bidding for over the coming months.

The new network will service approximately 350 residential dwellings, 15 businesses along with around 500 holiday homes and cabins. Efficiencies in the network build out have meant that some 300 extra premises have been covered over and above those specified in the original tender whilst remaining within budget. Customers covered by the new network have the option for several different broadband offerings with speeds of up to 75 Mbps and unlimited data allowances.

Jan-Tore Dannemark, CEO of Breiband, said:

"The Sør-Trøndelag project is a perfect showcase for what we're capable of as a company and also a demonstration of what's achievable with our fibre backed super-fast fixed wireless technology. This network has been designed and built quickly with no disruption to the area's roads or the end user's driveways for a fraction of the cost of what it would have cost to dig and lay fibre. However, the end user experience and service is as good or better than fibre to the home.

"Sør-Trøndelag is a very remote area and its fantastic that these homes and businesses have now got a high standard, future proofed broadband solution."

Contacts:

 
Satellite Solutions Worldwide   www.satellitesolutionsworldwide.com 
 Group PLC 
Andrew Walwyn, Chief Executive  Via Walbrook PR 
 Officer 
Numis Securities (Nomad and     Tl: [phone] 
 broker) 
 Oliver Hardy / Simon Willis 
 (Corporate Advisory) 
 James Black / Jonathan Abbott 
 (Corporate Broking) 
Walbrook PR (PR advisers)       Tel: [phone] 
 Paul Cornelius /Nick Rome/Sam   8780 
 Allen                           [e-mail] 
 

About SSW

Established in 2008, SSW specialises in the provision of rural and last mile broadband services with customers across 31 countries. SSW's solutions target B2C and B2B users, and the Company has products developed specifically for the broadcasting, Police and Military markets. SSW operates a number of brands such as Europasat (Europe), Breiband (Nordics) and SkyMesh (Australia) and is now the fourth largest independent provider of satellite broadband internet services in the world.

The 2015 listing on the London Stock Exchange together with the support from Business Growth Fund and investors in 2016 have put the Company in an excellent position to continue strong organic growth in its subscriber base and recurring revenues as well as execute on preferred acquisitions. The Directors believe there is a major opportunity to continue this organic growth and as appropriate consider acquisitions throughout the fragmented European satellite broadband market and further afield.

Working closely with satellite owners and operators, SSW targets customers in the 'digital divide' with solutions that deliver up to 40 Mbps satellite based broadband services or fixed wireless to almost any premises, whether residential, commercial or industrial across Europe and Australia, irrespective of location or local infrastructure.

This information is provided by RNS

The company news service from the London Stock Exchange

END

CNTLLFITILLLFID

(END) Dow Jones Newswires

October 23, 2017 02:00 ET (06:00 GMT)