[Sydney, AUSTRALIA] NetComm Limited
has raised $1.6 million after announcing its alliance with
Alcatel to build a broadband DSL
network.
NetComm made a share placement of 6,150,000 shares at 27 cents per share.
In the next two months NetComm and Alcatel will finalize their business
plan, within which Alcatel will provide a “turnkey solution” for NetComm,
initially rolling out in Sydney and Melbourne. NetComm claimed the network
would extend to other capital cities and regional centers, reaching over
180 exchanges nationwide within three years. Deployment will start in late
2000, with service expected to start in the first quarter of 2001.
Netcomm plans to target both SME and residential markets. It will promote
sales of broadband services over the network to its current customer base,
planning to direct users of its modems to online material about the DSL
offering.
The DSL network rollout follows an agreement signed in March between
Alcatel and technology start-up Van Gogh Investments, now being acquired by
NetComm.