Funds secured by ITS Technology for UK Full Fibre Network

Having headquarters in Chester, ITS Technology Group renders designing, funding, building and operating ultrafast broadband services of full fibre networks, fixed wireless networks and wifi hotspots. They also provides telecommunication solutions and IT managed services for rural and urban businesses. The ISP has the experience of 17+ years in their field. By providing complex and robust services to both private and public sectors, it has grown up into a leading service provider for wholesale service providers and end user customers across the UK.

There is a good news that ITS Technology Group has got further investment boost from private equity firms. The funds will be utilised to support for the commercialisation and growth of their full fibre infrastructure footprint in rural and metro areas. The sources of funding includes Maven Capital Partnes, Maven Venture Capital Trusts, the Northern Powerhouse Investment Fund and other private shareholders. But there is no information on the level of funding which is yet to be disclosed.

ITS is using this equity boost to their commercialisation and building of its full fibre ultrafast broadband networks. And the funds will be invested in new networks and expansion of their major networks in the areas of Bristol, London, Hereford, Tameside and Nottingham. They will adopt ‘dig once’ successful approach and work with the landowners and local authorities to reduce the cost and time to build new networks by reusing the infrastructure.

The ISP got a similar funding like now in October 2017 which was £2.25 million from Maven Capital Partners.

CEO of ITS – Daren Baythorpe said that ITS has been focussing on getting into the best shape in their roll out of ultrafast digital infrastructure. And the continued support by Maven’s validates their approach to support the government & Ofcom’s vision on full fibre. He feel delighted to have reinforced for their long term partnership.

Investment Director of Maven – Ryan Bevington said that their continued support to ITS shows their confidence on the management team, approach and business model of the investee company as they are with the company for the long term. Maven is excited to be a part of ITS’s next level growth along with the great management team.

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