Story image

Early Government buyout a credit to UFB rollout success

07 Sep 2016

The Government has actioned an early buyout of Ultrafast Fibre due to a huge amount of unexpected confidence in the future of UFB.

Communications Minister Amy Adams announced the buyout and says Waikato Networks has been a great partner.

“With this work complete, the Crown no longer needs to hold its investment in the network and Waikato Networks Limited wants to take over full ownership early,” says Adams.

“It’s a testament to the success of the Ultra-Fast Broadband (UFB) initiative that a build partner should seek to buy the Crown out three and half years earlier than planned,” she says.

Waikato Networks is taking full ownership of the local fibre company Ultrafast Fibre, previously jointly held with Crown Fibre Holdings (CFH).

“On settlement, the Crown will have received $189 million, or 95 per cent, of its original $198 million investment, three and a half years early. This deal delivers enormous value for money for taxpayers,” explains Adams.

She adds that New Zealand is a global leader in the rollout of fibre-to-the-premise on all counts.

“It’s outstanding for a Government partnership to have delivered this digital infrastructure at such a low cost to the taxpayer,” she says.

Adams also mentions the speed with which UFF completed its UFB deployment and strong uptake was a better outcome than what was originally expected.

“Uptake in Ultrafast Fibre’s coverage areas is very strong at over 28 per cent, compared to 25 per cent nationally. This includes Tauranga, which has the best uptake in the country at 33 per cent,” she explains.

UFB has been deployed in more than 190,000 homes, businesses and schools and around 11 per cent of the population in Hamilton, Te Awamutu, Cambridge, Tauranga, Hawera, Tokoroa, New Plymouth and Whanganui.

Waikino School's $10k win turns shipping container into STEM learning hub
A school in the Coromandel now has an interesting base for its STEM learning projects – a decked out shipping container complete with solar panels and a 3D printer.
You're invited: Adobe Symposium 2019, Sydney
The event will bring together 4000 business leaders, marketers, IT and digital experts, as well as creative professionals to Sydney’s International Convention Centre in the heart of the city.
Toshiba launches fast rotary cutter for B-EX6T1 printer
Intended primarily for industrial applications, these popular printers combine state-of-the-art technology with usability, reliability and low TCO.
How to avoid disappointment from SEO 'cowboys'
"Many business owners, even marketing managers, can find themselves out of pocket for thousands of dollars before they know it because they don't understand some of the fundamentals."
Why accelerating the uptake of tech in the NZ economy is crucial
“Historically, New Zealand has been more of a tech taker than a tech leader."
Breakthrough research to revolutionise internet communication
Every email, cell phone call and website visit is encoded into data and sent around the world by laser light.
Paving the road to self-sovereign identity using blockchain
Internet users are often required to input personal information and highly-valuable data from contact numbers to email addresses to make use of the various platforms and services available online.
Farmers looking for data to help change bad habits
It is no secret that agriculture is a massive cause of environmental issues in NZ. Farmers say they are willing to change, if they get the right data.