An Exeter-based wholesale internet provider has agreed to merge with a rapidly growing Oxford-headquartered operator.
FullFibre, which has offices on Pynes Hill, and its in-house internet services provider (ISP) retail company BeFibre, has agreed the deal with Zzoomm, an established full-fibre business.
The enlarged group will have one of the largest full-fibre footprints with some 600,000 properties ready for service and over 65,000 customers. The bosses of the merged firms said the move would accelerate growth and boost operational efficiency.
It is also hoped the deal could lead on further mergers and acquisitions across the Altnet sector.
Matthew Hare, chief executive of Zzoomm, will become executive chairman and James Warner, chief executive of FullFibre, will be group CEO.
Mr Hare said: “An enlarged business with the operational and financial infrastructure, benefitting from the economies of scale, as well as a management team with an exceptional track record, we will have an excellent platform to combine with other Altnets in the near future as well as driving organic growth faster.”
Mr Warner added: “This merger represents another significant step in our journey. With a shared commitment to delivering transformational full fibre connectivity with exceptional customer experience, this deal strengthens our collective ability to grow even faster and seize new market opportunities.”
“For FullFibre, this is our second merger and another milestone in our mission to create a 21st-century digital backbone for the nation. Following our recent successful integration with Digital Infrastructure and BeFibre, this next merger further accelerates our ambitions to lead the market and provide unmatched connectivity to homes, businesses, and wholesale partners alike.”
The merger is subject to final documentation execution and regulatory approval, expected early in 2025.
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