ITS Technology Group secures £100m investment to accelerate full-fibre rollout
Chester-based full-fibre network operator ITS Technology Group has secured £100m investment from Aviva Investors to accelerate the roll-out of its full-fibre networks.
Over the last two years, the firm has built digital infrastructure across Lancashire, Greater Manchester, and Merseyside and is currently building the LCR Connect network, a joint venture between Liverpool City Region Combined Authority, ITS and French building firm NGE.
In 2020, the network operator secured £45m in its first round of funding from Aviva Investors, the global asset management business of Aviva PLC, and has since significantly increased its network footprint.
The firm’s Faster Britain partner programme is designed to deliver full-fibre infrastructure to business dense areas where there is pent up demand for Gigabit-capable services.
As part of the continued roll-out of the Faster Britain programme, the group said it is on track to pass 25% of UK business premises by the end of this year.
Daren Baythorpe (pictured), CEO of ITS, said: “I am delighted to extend our partnership with Aviva Investors. We have made significant progress over the last two years, building a highly skilled team, scalable delivery capabilities, and creating a substantial full-fibre footprint.
“This further commitment will enable us to continue to rollout our open access wholesale digital infrastructure at pace, giving more businesses access to the connectivity solutions they need to underpin their operations.”
Sean McLachlan, Senior Director, Infrastructure, at Aviva Investors, added: “We are very pleased to continue our relationship with ITS and to support the extended rollout of its fibre networks across the UK.
“There has been a huge structural shift in data usage in recent years which continues to accelerate, and the continued investment in digital connectivity is fundamental to supporting how society functions today and tomorrow. ITS has made significant progress and outlined a clear vision to address this need. Combined with a strong team and expertise, we think this presents a compelling investment opportunity and look forward to working in partnership with them.”