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Announcements => News Articles => Topic started by: Bowdon on July 05, 2018, 12:05:56 PM

Title: ITS Technology Secure More Funding to Fuel UK Full Fibre Network
Post by: Bowdon on July 05, 2018, 12:05:56 PM

https://www.ispreview.co.uk/index.php/2018/07/its-technology-secure-more-funding-to-fuel-uk-full-fibre-network.html (https://www.ispreview.co.uk/index.php/2018/07/its-technology-secure-more-funding-to-fuel-uk-full-fibre-network.html)

Quote

The ITS Technology Group, which has built a mix of fibre optic and wireless broadband ISP networks around the UK, has secured another round of investment from private equity firms. The new funding will be used to support the growth and commercialisation of their “full fibre” network in metro and rural areas.

The level of funding itself has not been disclosed (we don’t know if it’s £10, £10,000 or £10 million etc.) but it stems from a mix of sources, including Maven Capital Partners, the Northern Powerhouse Investment Fund (NPIF), Maven Venture Capital Trusts (VCTs) and some other private shareholders (i.e. it’s probably more than £10).

According to the announcement, ITS intend to use the funding to invest in both new networks and expansion of their existing ones in Bristol, Hereford, London, Nottingham and Tameside. The operator said that it would also continue to adopt their “dig once” approach, which means working with local authorities and landowners to reuse infrastructure to reduce the costs and accelerate the time to build new full fibre networks.