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5G Networks (ASX:5GN) - Non Executive Director, Jason Ashton - The Market Herald
Non Executive Director, Jason Ashton
Source: Computerworld
  • Telecommunication services provider 5G Networks (5GN) has purchased the Pipe Networks data centre in Brisbane for $1.1 million
  • The data centre will bee able to support 250 racks and access to three megawatts of power on a dual power grid
  • Customers will be able to connect directly to the data centre through the company's dark fibre network
  • With this purchase, 5GN operates data centres in each state on Australia's east coast
  • On the market this afternoon, 5G Networks is up 2.24 per cent and is trading for $1.60 per share

5G Networks (5GN) has purchased a data centre, Pipe Networks, in Brisbane for $1.1 million.

The purchase includes all operating infrastructure at the facility and will come with a generous rent-free period spanning 10 years.

The data centre has the capacity to support 250 racks and access to three megawatts of power on a dual power grid. The purchase will allow customers to connect to the data centre directly through its dark fibre network, once the new rollout is completed.

After this purchase is complete, 5GN will have data centres in each state on Australia's east coast.

"We are really excited to be exploiting our advantage of being a data centre operator and fibre network owner, I haven’t seen rack space and dark fibre product bundling from one provider before, but this is what our customers are asking for," Managing Director Joe Demase said.

"It allows our partners to grow with a fixed cost model which also includes easy migration as a result of our six-month rack offer," he added.

The new facility is expected to be operational in January 2021.

On the market this afternoon, 5G Networks is up 2.24 per cent and is trading for $1.60 per share at 1:33 pm AEDT.


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