A provider of carrier-grade wireless broadband, data and voice communications services has announced plans to add fibre-optic services to the solutions is brings to small and medium-sized businesses (SMBs).
Toronto’s TeraGo recently completed a strategic review of its operations initiated by its board of directors, resulting in a new strategic direction for the SMB-focused vendor.
In a statement, TeraGo president and CEO Bryan Boyd said the vendor’s new goal is enhanced growth, and that will involve building and introducing a fibre-optic service delivery platform to complement its existing fixed wireless technology platform and leverage its spectrum portfolio.
“We will continue to target our traditional small to medium business market. Adding a fibre platform will create further growth opportunities and allow us to achieve benefits from further scaling our business,” said Boyd. “We plan to use fibre to address a new market for us – the requirements of larger business, enterprise and public sector customers looking for an alternative to our existing platform. We will also be able to more effectively accommodate growth among existing customers.”
TeraGo will have the choice to build or buy the new platform, with the announcement it has secured an additional $27 million in senior term debt financing for its enhanced business plan. The company said it expects it now has sufficient capital to support its enhanced strategic direction.