Imagine sets target of 1m homes passed with wireless broadband by 2018.
Irish altnet Imagine Communications, which is led by the entrepreneur Sean Bolger, has marked the settlement of its long-running EUR138 million (USD148.1 million) court case against Motorola, by announcing that – having wiped out its legacy debt – it now plans to roll out broadband services to one million Irish premises by 2018. The Irish Independent quotes Mr. Bolger as saying that the company spent about EUR20 million in 2015 and 2016 deploying its wireless LTE broadband technology service, adding that the rollout is still underway and Imagine has carried out a soft launch in areas where the network is present. According to Bolger, the company is now ramping up its sales drive and promises to deliver peak typical speeds of up to 70Mbps – suggesting peaks of up to 100Mbps – noting that it already has a footprint covering approximately 500,000 homes and businesses.
Imagine Communications, which is also backed by the likes of NTR and Kilsaran Concrete, cut its losses by more than half from EUR10.4 million to EUR4.7 million in FY2015, and also became profitable on an EBITDAbasis. Mr. Bolger confirmed that the firm’s FY2015 losses were largely due to non-cash write-downs and impairments associated with its previous WiMAX plan. Imagine sued Motorola in 2010 alleging breach of contract and negligence arising from the rollout of a WiMAX network. Motorola had countersued, denying the claims. Last month, the pair settled out of court in a confidential agreement, although it is likely Imagine received a significant sum under the arrangement.