Spectrum Enterprise, a unit of Charter Communications (NASDAQ: CHTR), said that it will invest more than $1 billion dollars this year in new fiber infrastructure to increase its national fiber-optic network's density and to deploy the resources, tools, and training, and resources needed for offering diversified client services.
This will be the second consecutive year Charter has invested more than $1 billion solely in Spectrum Enterprise. The $1 billion investment will add to the Spectrum Enterprise national fiber network's approximately 200,000 fiber-lit buildings by supporting growing client access to the current network, says the company.
According to Spectrum Enterprise, most of the new fiber will be built within its existing national footprint. To offer more businesses access to fiber internet access, Ethernet and voice trunks (SIP/PRI), and other fiber-based services, upfront costs of the fiber construction will be absorbed by Spectrum Enterprise for the majority of new enterprise clients within its footprint, with a main focus on eliminating businesses obstacles.
"As fiber connectivity has become fundamental to economic growth, we are focused on making our fiber infrastructure more accessible to clients and reshaping their experience to align with the evolving realities of today's modern enterprise," said Phil Meeks, Spectrum Enterprise's executive vice president and president. "Advanced video and virtual reality solutions, cloud, IoT and the future of 5G all depend on a reliable and highly-dense fiber network. Our commitment is to ensure that our clients have the most robust fiber network and solutions to grow today and take advantage of future technologies that have immense demands on bandwidth."
Spectrum positions itself as a national provider of scalable fiber technology serving several large American businesses and communications service providers. Spectrum's offerings include networking and managed services, such as Internet access, Ethernet access and networks, voice and TV solutions, managed application and hosting services, and cloud infrastructure.
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