GBP295m Funding Boost for Netomnia’s UK FTTP Broadband Rollout
Network operator Netomnia and partner broadband ISP YouFibre have today secured a huge funding boost of £295m from DigitalBridge Investment Management, which will help to fuel the ongoing rollout of their new 10Gbps capable Fibre-to-the-Premises (FTTP / XGS-PON) network for UK homes and businesses.
The operator, which last year secured £123m of funding (here) and has now covered over 130,000 UK premises across various towns (up from 115,000 last month), ultimately aims to reach 1 million UK homes and businesses by the end of 2023 – that’s a highly ambitious timescale and one that now has a good level of financial support behind it.
The latest transaction is expected to close in the second quarter of 2022, subject to the usual regulatory approvals and customary closing conditions. Vinson & Elkins L.L.P. is said to have served as legal counsel to DigitalBridge, while Stephenson Harwood LLP advised the operator and existing shareholders in connection with the transaction. The operator was also advised by independent investment bank Greenhill.
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Jeremy Chelot, Founder and CEO of Netomnia, said:
“We are thrilled to partner with DigitalBridge and benefit from their support and industry expertise as we work towards our target of one million premises passed in the next two years. We are scaling rapidly and aim to play an active role in unleashing the UK’s digital potential by delivering the benefits that come with multi-gigabit fibre broadband.”
Manjari Govada, Principal at DigitalBridge, said:
“We have known Jeremy for several years and are excited to partner with him in scaling the Group into a premier fibre-to-the-premises (FTTP) provider in the UK. We have been highly impressed with the growth of the business and the best-in-class team he has assembled.”
The service itself is typically supplied to consumers via UK ISP partner YouFibre, which offers unlimited usage, symmetrical speeds, a Wi-Fi router, free installation and 24/7 UK based support. Customers pay from just £17 per month on an 18-month term for their unlimited 50Mbps package, which rises to £34 if you want their top 900Mbps plan.
Netomnia often faces competition from gigabit-capable rivals in some of the areas they target, but so far their aggressively competitive pricing and strong service speeds seem to be doing a good job of peeling customers away from more established rivals. Clearly, their investors are happy with what they see. All of this places Netomnia in a good position for future growth and to become one of the more established AltNets.
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, BlueSky, Threads.net and Linkedin.
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Their rollout map has also been updated, some interesting new locations in there
Unfortunately their availabilty checker is pants.
If I search using my door number and postcode I get
“We are coming to your postcode! Register your interest with one of our service partners to get updates on when you can get connected.”
But if I use my next door neighbour’s door number, then I get
“Our plans do not currently include your postcode. We are always looking to expand our network, so please do register your interest with one of our service providers, and we will work with them to consider it in our future plans!”
If they can hit 1 million by the end of 2023 they’ll be in good standing, and the fact they offer wholesale options makes them in good standing as a national provider. Potentially making them one of the top AltNets behind CityFibre.
In Scotland they going for the bigger towns where CityFibre isn’t going.
Are there any Rollout plans targeted for South West Wales? Options available for me thus far are limited to FTTC 65/15 and only lately VM and I’m sure if VM 1gig packages are available to order. Personally, We need multi gigabit Full FTTP in my area. Ogi/Spectrum are a fair way away from their rollout, if they come near me at all. BTO estimate their FTTP Rollout (last check) 2024-2025 and thats if they pass my house. Wales needs proper deployment of Full Fibre outside of Cardiff/Swansea. Surrounding area are underserved in general, let alone those considered rural or semi-rural. Netomnia if your reading this? head this way please!
Ogi is the main other player in Wales after OR and VM. Netomnia also have some builds in the South of Wales (Barry and Bridgend), but we don’t yet know how much bigger they might get there.
NOTE: Spectrum Internet = Ogi.
What part of South West Wales?
I thought I saw some Pembrokeshire council project to implement 100% FTTP availability. I didn’t catch the timeline but they were essentially throwing money at the problem and surprisingly quickly.
They have started their rollout in Frome after announcing it at Christmas time. Roll on 1gb symmetrical service. Hope its not a long wait..