FlowCom AGM ebbs and flows
- 06 December, 2000 15:27
Steady, consistent growth was the message conveyed by broadband and Eftpos data services provider FlowCom at its first AGM in Sydney last week.
The broadband company chose its AGM to announce vendor finance arrangements with international networking vendor Alcatel.
FlowCom CEO Tom Amos said negotiations on the $62 million deal had progressed significantly since the company listed on the ASX in September this year. The financing arrangement will provide Flowcom with the necessary capital to extend it broadband access services and to expand these services.
FlowCom and Alcatel have been strategic technology partners since 1998 through the supply of long-haul and access technology.
In another announcement, FlowCom revealed plans to provide online purchasing of high-speed broadband with the launch of the DSL Shop. According to FlowCom, the virtual store will provide customers with faster access to information regarding availability and turnaround rates on requests for broadband services.
Fay Steward, FlowCom group corporate services manager, explained that the DSL shop was unique because of its ability to cross-reference electronically lodged requests with Telstra records.
"The DSL shop is the first online means by which a customer can place an order for a DSL service," Steward claimed. "When it comes to service provision we are only really limited by the time it will take us to get access to Telstra services, and the online shop can automatically track the wait."
Steward believes FlowCom is set to gain from the vertical integration between the infrastructure arm of the company and the licensed carrier.
"FlowCom is divided into two subsidiaries, Macrocom, which is a licensed carrier, and Flow Communications, a service provider which provides our infrastructure like the data transmission products," Steward said. "Essentially they feed off each other, we can provide both the broadband service and the necessary infrastructure."
According to Steward, the stock market's subtle response to the AGM announcements is in keeping with FlowCom's overall growth.
"We are not a dot-com boom and bust company, we are looking at steady growth over the next 12 months," she said.