Selling fiber network nets city and Westfield Washington Schools $5 million
During the past six years, the city and Westfield Washington Schools have partnered to create a fiber network that spans 26.4 miles throughout Westfield. The partnership, which was named WestfieldConnects, has now been sold to Indiana Fiber Network, LLC in exchange for technology, equipment and services valued at $5,018,460.
“This agreement is a 270 percent return on investment and gives the schools and city 10 years of free broadband service and free maintenance while also maintaining ownership of approximately 28 percent of the fiber strands,” said Westfield Washington Schools Supt. Dr. Mark Keen.
“The WestfieldConnects project is just another example of what our community can achieve by thinking outside the box,” said Mayor Andy Cook. “The schools and city partnered many years ago and it served the city government and school system well.”
To market the fiber network to businesses in Westfield successfully, Cook said it would require time and capital expenditure.
“By partnering with our school system, we have been able to create a community that can provide resources for businesses and residents alike,” he said.
Created by WestfieldConnects Executive Director John Rogers, the enterprise was always designed to be an acquisition complementary to a regional telecommunications organization that would benefit the Westfield community.
“The partial transfer of the fiber plant provides the city and school with needed equipment and services in addition to the city, county, school and township retaining their connections,” he said. “The technology to upgrade equipment between buildings will increase bandwidth significantly.”
For IFN, the leading Indiana statewide Network Service Provider, the agreement allows them to offer new fiber broadband service for commercial customers in Hamilton County.
“Acquiring our network provides them with a real fast network across Hamilton County,” Rogers said.
For more information, visit www.ifncom.net or call 280-4636.
As part of the agreement, Indiana Fiber Network, LLC has offered the following:
● Design, install and provide transport for a 10 GB Wide Area Network for both the schools and city (value $1,964,400).
● Provide 10 GB connect nodes at nine school facilities and five city facilities (value $1,996,060).
● Install new network equipment (value $ 173,000).
● Annual support of network equipment for 10 years for the school and city (value $ 45,000).
● The school system and city will receive free internet for 10 years (value $ 420,000).
● Internet transport for 10 years (value $ 420,000).
– Total value: $5,018,460