Home
 » ISP News » 
Sponsored Links

UPD Hyperoptic Secure £50m to Expand UK 1Gbps Fibre Broadband Coverage

Thursday, May 23rd, 2013 (7:37 am) - Score 1,455

Urban ISP Hyperoptic, which offers “hyper-sonicFTTH/B based broadband speeds of up to 1000Mbps (Megabits) to 20,000 homes in London (i.e. high-rise buildings and apartment blocks), has secured a new investment of £50m to help expand into 10 new UK cities by the end of 2014 (80,000 homes).

Quantum Strategic Partners Ltd., a private investment fund managed by Soros Fund Management LLC (George Soros) that focuses on capital-intensive start-ups, buyouts, and growth equity transactions, has committed the new money in order to help Hyperoptic achieve its original goal of making their fibre optic services available to 500,000 homes within the next 5 years (2018).

The investment fund itself typically seeks to acquire “world-class assets that can generate strong and growing cash flows” and, as a result of today’s deal, two Soros directors will join Hyperoptic’s board (Waldemar Szlezak and Joshua Ho-Walker).

Boris Ivanovic, Hyperoptic’s Chairman and Co-Founder, said:

Today’s investment is a resounding vote of confidence in both our business model and the bright prospects for FTTH technology in the UK. As momentum continues to build for ‘smart cities’ and an increasingly technology-fuelled economy and society, the need to future proof our infrastructure has become absolutely critical and Hyperoptic will play a key role in doing just that.”

Bruno Ducharme, Hyperoptic’s New non-Executive Director, said:

In Hyperoptic, I see an exceptional team of entrepreneurs in the ISP marketplace, a proven business model to deliver cutting-edge broadband technology, and a big opportunity to meet the growing appetite for superfast broadband. I am pleased to play a part in supporting their rapid growth trajectory through this long-term infrastructure investment.”

It’s understood that Hyperoptic’s existing directors will continue to retain their majority control, although Soros is now said to hold a substantial stake in the business. Ivanovic also confirmed the ISPs worst kept secret and revealed plans to launch a pay-tv service.

The confirmation follows Hyperoptic’s recruitment of BTVision’s (IPTV) former Head of Propositions, Darren Shenkin, in March. The ISP has always planned to offer a TV solution, which will probably make use of the YouView platform.

UPDATE 9:07am

Added some more comments from Hyperoptic’s boss.

Mark-Jackson
By Mark Jackson
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook and .
Search ISP News
Search ISP Listings
Search ISP Reviews

Comments are closed

Cheap BIG ISPs for 100Mbps+
Community Fibre UK ISP Logo
150Mbps
Gift: None
Virgin Media UK ISP Logo
Virgin Media £26.00
132Mbps
Gift: None
Sky Broadband UK ISP Logo
100Mbps
Gift: None
Plusnet UK ISP Logo
Plusnet £27.99
145Mbps
Gift: None
Zen Internet UK ISP Logo
Zen Internet £28.00 - 35.00
100Mbps
Gift: None
Large Availability | View All
New Forum Topics
By: The Wee Bear
By: Dazzabird77
By: The Wee Bear
By: nimdy
Cheapest ISPs for 100Mbps+
Gigaclear UK ISP Logo
Gigaclear £17.00
200Mbps
Gift: None
Community Fibre UK ISP Logo
150Mbps
Gift: None
BeFibre UK ISP Logo
BeFibre £19.00
150Mbps
Gift: None
YouFibre UK ISP Logo
YouFibre £19.99
150Mbps
Gift: None
Hey! Broadband UK ISP Logo
150Mbps
Gift: None
Large Availability | View All
The Top 15 Category Tags
  1. FTTP (5595)
  2. BT (3537)
  3. Politics (2559)
  4. Openreach (2316)
  5. Business (2290)
  6. Building Digital UK (2256)
  7. FTTC (2050)
  8. Mobile Broadband (1998)
  9. Statistics (1804)
  10. 4G (1686)
  11. Virgin Media (1644)
  12. Ofcom Regulation (1477)
  13. Fibre Optic (1410)
  14. Wireless Internet (1403)
  15. FTTH (1382)
Promotion
Sponsored

Copyright © 1999 to Present - ISPreview.co.uk - All Rights Reserved - Terms , Privacy and Cookie Policy , Links , Website Rules , Contact
Mastodon