CityFibre acquires UK full fibre network builder FibreNation from TalkTalk
CityFibre acquisition of FibreNation : CityFibre, a full fibre network infrastructure provider in the UK, has wrapped up its previously announced acquisition of full fibre network builder FibreNation from TalkTalk Group in a move to become the third national digital infrastructure platform in the country.
The deal, which was announced in January 2020, was closed after TalkTalk shareholder approval, enables CityFibre to ramp up its rollout ambition from five million to up to eight million premises, thereby supporting an investment program of up to £4 billion.
Furthermore, it will also help to speed up the availability of full fibre across the UK, a platform which is crucial to social and economic recovery in the wake of the coronavirus outbreak, said CityFibre. The closing of the deal also triggers TalkTalk’s onboarding as the latest major customer of CityFibre, making long-term commitments of residential and also business customers.
Founded in 2018, four years after a joint venture between TalkTalk, CityFibre, and Sky, FibreNation was launched to bring full fibre infrastructure and services across the City of York. The FibreNation brand will be retained in the market and the company will continue to operate and expand its networks where about 60,000 premises can get access to gigabit speed broadband services provided by TalkTalk.
FibreNation is said to have network construction projects in progress in Harrogate and Dewsbury. Recently, the company announced Bolton as the next town in line to benefit from full fibre. Currently, the company is mobilizing in Knaresborough and also in Ripon, with plans to offer full fibre to up to three million homes and businesses.
CityFibre acquisition of FibreNation. Photo courtesy of CityFibre.
Commenting on CityFibre acquisition of FibreNation, Greg Mesch – Chief Executive at CityFibre, said: “In the face of the rapid spread of the Coronavirus and its unprecedented impact on the UK’s society and economy, we believe that the need for world-class digital infrastructure has never been greater.
“Completing our acquisition of FibreNation marks an acceleration in our ability to deploy the critical future-proof digital infrastructure our country needs. By significantly expanding our rollout ambition to up to 8 million premises, CityFibre is helping to answer the call for a full fibre Britain.
“With TalkTalk now joining our networks to offer full fibre services to their residential and business customers, we look forward to working with our new FibreNation colleagues to maximise the benefit of our rollouts.”