- Internet and IT specialist Spirit Telecom (ST1) has officially launched its new NBN Enterprise Ethernet product
- The new product was launched through the company's Spirit X platform, which is a major internet product aggregator
- With the launch of its new NBN service, Spirit Telecom's platform can now reach two million businesses across the country
- Before this, the company said its Spirit X platform could only service roughly 100,000 addresses with fibre internet products
- Managing Director Sol Lukatsky said the launch of today's new product moves Spirit to a new phase of growth
- Shares in the company are trading 10 per cent higher today, currently worth 22 cents each
Internet and IT specialist Spirit Telecom (ST1) has expanded its national reach today through the launch of its NBN Enterprise Ethernet (NBN EE) product.
The new product was launched through ST1's Spirit X platform, which the company touts as the largest aggregator of business-to-business (B2B) internet products in one online sales portal in Australia.
NBN EE is an enterprise-grade fibre service. Through the Spirit X platform, the new product can reach in the vicinity of two million businesses across the country.
This is a significant upgrade, given Spirit X could previously service roughly 100,000 addresses with fibre internet products. The company said the platform now has a "truly national footprint".
Spirit Telecom Managing Director Sol Lukatsky said the launch of the NBN EE product moves the company into a new phase of growth.
"Spirit X has already generated over 6200 service qualifications and leads in a few months," Sol explained.
"With the ability to service a much larger number of businesses, Spirit can drive greater awareness of the platform and continue to fill the demand for bundled, high-speed internet links and IT services in one offering," he said.
Additionally, Sol said the Spirit X product range is being promoted through the company's first national marketing campaign.
While today's launch majorly expands ST1's national reach, the company said further organic growth will come through cross-selling opportunities as the Spirit X platform shifts from a data platform to a marketplace in the 2021 financial year.
ST1 said Spirit X will then offer cloud services, IT support, and security — meaning customers can buy bundled high-speed internet and IT services in one offering.
Spirit Telecom has been rated at the country's fastest internet provider, with broadband speeds ranging from 25 megabits per seconds (Mbps) to a whopping one gigabit per second (Gbps).
Following today's new product launch, ST1 shares are trading 10 per cent higher and worth 22 cents each. The company has a $93.8 million market cap.