Alaska Communications Completes First Phase of Multi-Million Dollar, Pre-Funded Contract for Carrier Broadband Network in Ala...
November 19 2019 - 8:55AM
Business Wire
Alaska Communications (NASDAQ: ALSK) has completed the first
segment of the broadband network, reaching a critical milestone
installing a pre-funded contract to build a high-capacity network
in Alaska and provide network services to a major international
telecommunications carrier and its customer.
The master agreement, executed in July 2019, includes
provisioning of two secure broadband network routes scheduled for
completion in early 2020 and service agreements for the next 10
years with the opportunity to extend for another 10 years. The
company has received full payment for the completed route and has
received the service order for the second route.
“We’re pleased with our customer approved milestones and look
forward to completing the project early next year,” said William H.
Bishop, Alaska Communications President and CEO. “We continue to
win in the marketplace thanks to our proven ability to be a
reliable, local, trustworthy network partner with a customer-first
focus. Pre-funded projects yield significant upfront cash flows and
long-term revenue streams. While meeting the broadband needs of
carrier customers and their end-users, we enhance the Alaska
Communications network at key locations that can be leveraged for
other relationships. We welcome the opportunity to pursue similar
relationships.”
About Alaska Communications
Alaska Communications (NASDAQ: ALSK) is the leading provider of
advanced broadband and managed IT services for businesses and
consumers in Alaska. The company operates a highly reliable,
advanced statewide data network with the latest technology and the
most diverse undersea fiber optic system connecting Alaska to the
contiguous U.S. For more information, visit
www.alaskacommunications.com or www.alsk.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191119005272/en/
Media Contact: Heather Marron, 907-564-1326 Investor Contact:
Tiffany Smith, 907-564-7556 investors@acsalaska.com
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