BDB Pitmans acts for ITS Technology Group in securing £100 million investment to deliver ‘Faster Britain’
Top UK law firm, BDB Pitmans, has assisted wholesale full fibre provider, ITS Technology Group (ITS), in securing £100 million of funding in a second private investment from Aviva Investors. Building on an initial investment from Aviva in 2020, this additional funding will enable ITS to continue to fast track the rollout of its ‘Faster Britain’ full fibre networks.
Faster Britain is the name given to ITS’ wholesale open access network footprint and partner programme, which targets and delivers rich, ultrafast full fibre digital infrastructure to major towns and cities across the UK, specifically those with a sizeable business community and a greater need for Gigabit-capable services. By utilising the latest XGS-PON technology, ITS is able to deliver services including basic broadband all the way to 10Gbps Ethernet leased lines through the same connection.
Head-quartered in Cheshire, ITS’ digital infrastructure is on track to pass 25% of the UK’s business premises. As a commercial innovator, ITS designs, builds and operates Gigabit capable full fibre networks, ensuring that businesses have the superior connectivity they need to enable smooth connection to servers, cloud-based apps, or IP-based services.
ITS can supply full fibre networks much quicker than the industry norm, also installing end-user Faster Britain connections with minimal disruption. Reusing existing infrastructure, or taking a ‘dig once’ approach where possible, avoids unnecessarily impacting communities in and around installation areas.
BDB Pitmans’ team was led by corporate partner Oliver Kelly with support provided by solicitor Leah Houghton, solicitor’s apprentice Fin McKenzie, and trainee solicitor Sophie Warner.
Partner Oliver Kelly, commented:
‘It was a pleasure to help ITS secure this sum. Investment in digital connectivity shows no signs of slowing down in the wake of the pandemic, in line with increased demands in the professional and entertainment markets. We have no doubt that ITS will further increase its impressive footprint and transform the business connectivity of thousands in the process. We look forward to watching their continued growth.’
Daren Baythorpe, CEO of ITS Technology Group concluded: