PRESS RELEASE 18 September 2001
BROADBAND.SOUTHLAND.NET.NZ - Invest South & SouthNET
Southland Investment & Technology Companies Team Up to Provide High-Speed Internet for Invercargill, Southland and Queenstown – Arrowtown
Invest South, Invercargill equity and debt investment company, and SouthNET, Southland-owned and operated Internet
Services Provider, have joined forces to make high-speed, broadband wireless Internet services available in
Invercargill, Southland and Queenstown-Arrowtown.
Invest South CEO David Backhurst believes that “this commercial transaction will allow Invest South to tangibly assist
SouthNET’s strategy of enhancing Southland’s economic advantage."
Mr Backhurst said Invest South was proud to be associated with a recognised and established successful Southland
business such as SouthNET.
In late August 2001, SouthNET announced its plan to introduce high-speed wireless Internet services for Invercargill,
Southland and southern Otago. SouthNET's "district-wide aggregation plan" uses SouthNET as the leverage point to bundle
together the bandwidth requirements for Southland businesses, schools, councils, organizations and individuals to obtain
better wholesale pricing, which in turn should make the service more affordable for Southlanders and at the same time
make Southland more competitive.
The nature and terms of the strategic alliance between the firms is commercially sensitive. However, SouthNET and Invest
South are confirming that Invest South is assisting with financing for the wireless infrastructure and that the dollar
amount is six figures.