Editorials

Swift Networks Group secures $2M to move into aged care and land lease communities

Nov 15 2016 Updated May 3, 2023

The Weekly Source

1 min read

The Group has raised the funds from investors at $0.23 per share to buy Web2TV and Living Networks, which provides entertainment and telecommunication services to aged care homes and over-55s lifestyle resorts.
The recently-listed Group, which delivers TV, Wi-Fi, video on demand and telco services to accommodation providers, has historically focused on clients in the mining and resources industry.
The move is expected to increase its room subscriptions to around 40,000 and boost Swifts presence in NSW and VIC.
They already have 29,000 room installations across Australia, which generated 93% of its $14.42M revenue in 2015-16.

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