March 22, 2015
Two Degrees Snaps up internet company
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Mobile phone operator Two Degrees has moved into the fixed line market with the purchase of Christchurch-based internet service provider Snap.
Chief executive Stewart Sheriff says it’s the fourth largest IPS with 20 percent of the residential fibre market.
Half its revenue comes from business customers, an area where Two Degrees has been weak.
He says it’s what customers have been asking for.
"People are consuming data at an alarmingly increasing rate but they want to be able to consume it both at home and on the move, so I think the combination of 4G and UFB is a perfect combination." Mr Sheriff says.
He says the Snap purchase removes a major impediment to growing market share, which stands at 23 per cent in terms of customers and 17 percent in terms of revenue.
Maori interests own just over 7 percent of Two Degrees through Hautaki Ltd, and the network uses 3G spectrum gained allocated to Maori through a previus partial treaty settlement.
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