$150m funding for wireless firm Consistel

$150m funding for wireless firm Consistel

A local firm that just won the licence to put in the Singapore Sports Hub's wireless communications system has bagged $150 million in fresh funding.

Consistel said it will use the funds, secured from locally-based private equity firm Equis Funds Group, for business expansion. Equis will take a "minority" stake in Consistel.

The Sports Hub system that Consistel will build and host includes Wi-Fi and 3G and 4G mobile technologies, and will allow any device to connect to the Internet or make calls within the premises.

Paid Wi-Fi connections can be established using a username and password issued by Consistel. 3G and 4G connections will be provided via the three local telcos - SingTel, StarHub and M1.

Telcos have the option to lease the backend mobile facilities from Consistel, as the "neutral host".

This "neutral hosting" model is a first in Singapore. The key selling points are that less mobile equipment needs to be installed and building owners deal with a single operator.

Equis believes that the concept will take off in Asia and plans to use Singapore as a showcase.

"Sports Hub is an iconic building and it is important that world-class in-building coverage is provided for both residents and visitors," said Mr Lance Comes, a partner in Equis.

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