Comcast Targeting Fortune 1000 for Broadband, Wifi Services
Attention AT&T and Verizon Communications, Comcast Business is aiming its Internet and technology services at the largest companies in the United States.
Comcast’s fast-growing business division has just launched a new enterprise services unit hoping to bring broadband, ethernet, wi-fi and other services to Fortune 1000 companies. It’s a big step for Comcast Business, which saw revenues climb 20.4 percent in the second quarter. Now it’s hoping to bring data services to areas typically serviced by other cable companies.
Comcast says it has already signed large customers from multiple industries, including financial services firms, banks, hospitality chains and retailers. CNBC is reporting that over the last six-to-nine months, Comcast has signed up 25 to 30 customers with $45 million in contracts. It also said big banks are on that list.
The Wall Street Journal reports that Comcast “struck wholesale agreements with cable operators including Cox Communications Inc., Time Warner Cable Inc., Charter Communications Inc., Cablevision Systems Corp. and Mediacom Communications Corp., to offer services using their pipes.”
“Large companies need a provider who can help them manage complex networks, develop business continuity plans and integrate cloud-based applications,” said Bill Stemper, president of Comcast Business, in a statement. “Our entry into this segment of the market will introduce new innovation and choice.”
The move will pit Comcast against more established players in the industry, like Verizon and AT&T. “Because cable companies are regional by nature, they haven’t been able to offer one-stop-shop, nationwide offerings for big enterprises,” the WSJ said. The new agreements and plan aim to change all that and create new competition in the market.