Comcast on Wednesday will outline plans to form an enterprise services unit aimed at larger enterprises with multiple locations.
Specifically, Comcast said it will target Fortune 1000 companies in a move that takes it upstream in terms of its customer base. One of Comcast's fastest growing businesses is its enterprise business targeting smaller companies.
The company said it will offer a set of managed enterprise services covering broadband, Ethernet, voice, router, security, business continuity and Wi-Fi. Comcast's move puts it in direct competition with AT&T and Verizon, two large carriers that focus on large enterprises.
Glenn Katz, the former CEO of SpaceNet, will run Comcast's new enterprise unit. Comcast's large enterprise unit is built in part via the acquisition of Contingent Network Services. Contingent is a services outfit focused on network outsourcing that will be a subsidiary of Comcast Business and maintain its own brand.
According to Comcast, its enterprise services team will, design, build and managed networks for large corporations. To reach those companies, Comcast has forged agreements with Charter and Time Warner Cable to reach multiple offices.
Comcast Business has an annual run rate of $4.5 billion and represents a growth market for the cable giant. In the second quarter, Comcast's business services revenue was up 20.4 percent to $1.2 billion. Comcast added that its penetration in the small business market was about 25 percent with 10 percent for midmarket companies.