Aviva Investors awards ITS Technology £100m for UK full fibre deployment
ITS Technology Group (ITS), a UK-based wholesale full fibre provider, has secured a further £100 million investment from Aviva Investors, for its full fibre rollout.
The funding will be used to accelerate ITS Technology's rollout of its Faster Britain full fibre networks which is due to pass 25% of UK business premises by the end of 2022.
“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," said Daren Baythorpe, CEO of ITS Technology Group.
"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."
Aviva Investors is the global asset management arm of Aviva Plc and is an existing ITS investor having secured its first round of funding from Aviva Investors in early 2020. Since then, ITS has grown its network footprint, known as Faster Britain, delivering fibre infrastructure to business dense areas where demand for gigabit services is high.
Further ITS’ Faster Britain partner programme now consists of more than 300 reseller, Internet service provider, and managed service provider partners that can access and provide this high-speed connectivity to end-users.
"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," said Sean McLachlan, senior director of infrastructure at Aviva Investors.
"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.”
Levarging XGS-PON technology enables ITS to remotely scale its service offering from broadband all the way to 10Gbps Ethernet leased lines.
The company also adopts a ‘dig once’ approach and reuses existing infrastructure to build its full fibre networks.