Italian fixed-wireless internet provider EOLO says it plans to invest EUR300 million (US$357 million) over the next three years to deploy 100Mbps broadband connections across the country. The firm is utilising 28GHz spectrum to deliver its 100Mbps services, and currently offers coverage in nine provinces – some six months after its top-tier EOLOwaveG service was launched. It intends to roll out networks covering some 3.5 million premises in under-served ‘digital divide’ areas.
EOLO reported revenues of over EUR100 million for full-year 2017, up 33% compared to the previous year. It claims more than 300,000 customers on its networks which span 5,900 communities in 14 regions of northern and central Italy. Earlier this year investment firm Searchlight Capital Partners acquired a 49% stake in EOLO from its existing shareholders, CEO and founder Luca Spada and Italian IT services company Gruppo Elmec. Spada had previously held 55% of EOLO, while Elmec had 45%.