On 4th December 2018, Swift Networks Group Limited (ASX: SW1), digital entertainment and advertising solutions provider, revealed about entering into a three-year agreement to provide its content to aged home care facilities provider, Infinite Care at its existing as well as upcoming facilities across different locations.
The initial design of the service offering will have Swift providing aged care specific content to new Queensland sites at Mt Lofty and Cornubia, due to be opened early 2019. In addition to these sites, Infinite Care is expected to provide entertainment solutions package to 400 existing rooms in South Australia, expected to grow to 2500 in number by 2021 by expanding new sites at South Australia, New South Wales, Victoria and Western Australia.
Swift’s partnership with Infinite Care will enhance quality of life, entertainment as well as connectivity for its residents. Swift aims at providing on-demand movies and television programming, health and lifestyle content, applications to keep residents connected to family and community, access to audio books, podcasts and local and international radio programming.
Swift’s diversified product offering includes newly released movies, cinema, wellness content, music, Lumiair - cloud based entertainment system, internet and telecommunications service as well as mobile plans to its viewers and guests for their entertainment as well as connectivity. Using a simple up and down functionality, users can access entertainment and telecommunications technology with the touch of a button. The Swift system also offers content pertaining to lifestyle tips, relaxation videos, exercises and many more.
Swift’s expansion into dynamic and competitive aged care industry in a rapidly growing Australian ageing population, and its commitment in keeping the aged users entertained and connected to their family, looks promising for business plans and sustainable from growth perspective. The company also executed a re-seller agreement with Vietnamese systems integrator, Sieu Nhat Thanh Co. Ltd for a period of 3 years, with an aim to provide award winning hospitality solution to its customers throughout Vietnam. Recently, Swift has entered into multiple agreements with clients such as Pilbara Minerals, Talison Lithium and Altura Mining to provide services and entertainment content to lithium mine camps in Western Australia.
Early 2018, Swift Networks announced its plan of offering free Wi-Fi connection available to about two million users daily in Nigeria’s commercial nerve center Lagos to address the broadband connectivity issue of digital generation.
Swift has witnessed its share falling drastically over past of couple of months. However, the firm has not shown any performance or operational issue that could explain recent share price weakness. The company aims to continue signing contracts across several verticals (Resources, Age care, Hospitality and Defence and Marine), launching innovative products and service offerings for existing customers and targeting new markets/industries in near term offers a growth outlook. The market outlook for FY19 remains positive as firm continues to reiterate its positive stance on the expansion and growth prospects. With the above news, SW1 moved up by 4.1% as at December 04, 2018.