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ITS Secure £45m from Aviva to Boost UK Full Fibre Rollout Plan

Tuesday, January 7th, 2020 (2:41 pm) - Score 1,183

ITS, which runs 24 alternative full fibre and hybrid (wireless and fibre) networks across the United Kingdom (current contracts enable access to over 70,000 premises), has today announced a new £45m deal with Aviva Investors to help “fast track” its plans to build new “full fibre” data and broadband ISP networks.

Under the new plan ITS will use the extra funding from the global asset management firm (Aviva) to move into several new areas across the UK, where they intend to build “full fibre” networks that will pass “at least200,000 premises (both homes and businesses). At present ITS is still more focused upon the business connectivity market, although some of their networks do include residential properties too.

Apparently some of this work will also involve an extension of coverage for their existing networks, although exact details have yet to be unveiled. The provider’s gigabit-capable networks are typically open access and a number of ISPs make use of them via ITS’ wholesale channel.

ITS said they would continue to reuse public and private infrastructure to accelerate their rollout, and will also collaborate with its partner network(s) to identify where the greatest demand for full fibre services exist in order to prioritise build plans (demand-led).

Daren Baythorpe, CEO of ITS, said:

“I took over the reins of the business in early 2018 and focused on reshaping the business; strengthening all aspects of our operations and strategic approach. This has created a strong foundation for this next phase of our growth.

We are really excited to be working in partnership with an investor of Aviva’s calibre. It gives us considerable financial backing to further flex our reuse muscles and continue to take advantage of the opportunities ahead. This approach allows us to connect more customers to full fibre far quicker than the industry norm.

With BT’s public switched telephone and copper network switch off plans now in progress, the race to build alternative futureproof full fibre IP-based networks is on to ensure coverage and choice for end-users – ITS is proud to be playing our role in achieving the UK’s ambitious plans.”

Sean McLachlan, Senior Director at Aviva Investors, said:

“Aviva Investors is pleased to support the rollout of ITS’s full fibre broadband network. There is a clear and growing demand for this essential infrastructure across the country. The funding from Aviva Investors will allow ITS and its management team to build on its existing infrastructure and brand to accelerate its network expansion and to provide world-class infrastructure across the country.”

The most recently completed full fibre network at ITS came from their new infrastructure along the Fylde Coast in Lancashire, although they currently also operate various other networks across areas including Bristol, East Midlands, Greater Manchester, North Wales, the North East and South East including London. Sadly no timetable has been provided for them to achieve the 200,000 premises target.

Otherwise today’s deal means that former investor Maven Capital Partners has exited along with a number of other shareholders. Oakley Advisory, advised ITS, supported by its new institutional investor, Aviva Investors.

Leave a Comment
1 Response
  1. Avatar 5G_Infinity

    ITS is as you say B2B focused so there will be little FTTP to residential, most are premise passed through spine.

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