REANNZ confirms Pacific Fibre signing, names price

Deal that was signalled in May is formalised, and valued at $91M

REANNZ and Pacific Fibre have signed a $91 million definitive agreement for the supply of international capacity on the planned Pacific Fibre cable system. The agreement was approved by the REANNZ board and by shareholding Ministers Bill English and Wayne Mapp. It formalises a commitment REANNZ made to Pacific Fibre in May.

Donald Clark, outgoing REANNZ CEO, says: “We are very happy to have completed the negotiations, marking substantial and rapid progress from the key commercial terms announced in May. The contract sets REANNZ and KAREN up for lasting success, and is a critical part of delivering long-term unconstrained high performance networking for the research, education and innovation communities in New Zealand.”

REANNZ has 129 member organisations with connections at 186 sites across New Zealand. The international capacity agreement will secure their ability to fully participate as part of a global network of more than 100 Research and Education networks.

Pacific Fibre CEO Mark Rushworth confirms the importance of the REANNZ commitment to the Pacific Fibre project. “Announcing REANNZ key terms in May gave important momentum to our engagement with our vendors, finance partners and other foundation customers. While today’s news marks another important step, we have also made considerable progress across the board.”

REANNZ (Research and Education Advanced Network New Zealand Ltd) is the Crown-owned company that owns and operates the high-speed, unrestricted broadband network for the New Zealand education, research and innovation communities - KAREN (Kiwi Advanced Research and Education Network).

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Tags reannzpacific fibreKAREN

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