Bringing Australian ISP iiNet onboard as a second foundation customer brings Pacific Fibre another step closer to delivering its international internet cable linking New Zealand to the US.
Chief executive Mark Rushworth says he is pleased to have signed a definitive agreement with Australia’s second largest DSL broadband provider.
iiNet reported revenue of A$473.8 million last year, an increase of 13 percent, and more than 1.3 million customers.
It acquired Melbourne-based ISP Netscape in 2010, as well as the consumer division of Telecom's Australian subsidiary, AAPT, which Malone says puts iiNet on track to achieve 15 percent of the residential DSL market.
Chief executive of iiNet, Michael Malone, says customers will benefit from the increased capacity.
“As a foundation customer with Pacific Fibre, our customers will enjoy some of the fastest paths when accessing international content both now and well into the future,” Malone says.
“We have always supported competition in the international cable space, and the additional capacity and choice Pacific Fibre is delivering can only be good for both our business and the industry in general.”
Headquartered in Auckland, Pacific Fibre was founded in 2010. Shareholders include entrepreneurs Sam Morgan, Rod Drury, Sir Stephen Tindall and early Facebook investor Peter Thiel.
It recently signed up the government-owned Research and Education Network New Zealand (REANNZ) as its first customer.
Last week Pacific Fibre also revealed US company TE Subcom would build and design its cable, which it aims to launch in early 2014.