The rise of Telecom Acquisitions as a major force in the residential broadband supply area continues following the signing of a wholesale agreement with KCOM.
Fri, 1/11/2024 - 09:55
CityFibre has announced the sale of Lit Fibre’s consumer Internet Service Provider to its co-founders, Tom Williams and Ben Bresler.
The deal means Lit Fibre’s existing customers across Wiltshire, Gloucestershire, Hertfordshire, Worcestershire, Essex and Suffolk, will continue to enjoy broadband services from Lit Fibre.
Lit Fibre is also now fully onboarded to CityFibre’s national infrastructure platform, enabling it to offer symmetrical speeds of up to 2.5Gbps anywhere over the full fibre network.
CityFibre acquired the consumer ISP in May 2024 and work to integrate its 10Gbps XGS-PON network infrastructure into CityFibre’s carrier-grade network is expected to complete in late 2024.
The integration will expand CityFibre’s nationwide full fibre network by up to 300,000 premises, as part of its plans to reach at least 8 million premises.
The sale of Lit Fibre’s consumer ISP aligns to CityFibre’s commitment to a wholesale-only model and demonstrates CityFibre’s ability to rapidly integrate and commercialise acquired footprint to drive network growth.
Williams and Bresler said: “The landscape for internet services is changing where the in-home experience is becoming more important.
“We believe consumers should expect more from their internet provider and Lit Fibre has an exciting roadmap of product improvements including improved WiFi coverage and enhanced security and protection for all connected devices to meet these higher expectations.”