Zzoomm has appointed Acuity Advisors to explore potential M&A targets, according to a report from Sky News.
Tue, 2/01/2024 - 11:06
Freedom Fibre and VX UK will combine their businesses, with InfraBridge controlling the combined entity.
The new business will have a combined footprint of 285,000 and operate under the Freedom Fibre brand, run by Neil McArthur and his current senior leadership team.
He said: “This is a strategic merger which leverages the strengths of both Freedom Fibre and VX UK to create a larger, stronger and more diverse business backed by two significant investors.”
VX UK’s main presence is in Stoke on Trent and the surrounding areas through its contract with Stoke City Council, which provides connectivity for local authority premises. It markets its services through its LilaConnect brand, alongside a wholesale offering for local ISPs.
Freedom Fibre secured its first Building Digital UK (“BDUK”) gigabit tender earlier this year and has begun offering a range of B2B products.
It benefits from a long-term wholesale agreement with TalkTalk, which will remain a shareholder in the combined business.
The transaction is subject to regulatory approvals and is expected to close by the end of Q1 2024.
