Acquisition deal to accelerate provision of fast broadband in rural areas
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Hessle-based provider of ultrafast broadband to rural and hard-to-reach areas, Quickline Communications, has signed an agreement to acquire a majority share in Boundless Networks Ltd.
David Hood, chairman of Leeds-based Boundless, will retain a minority stake and remain on the Boundless board.
This new deal is part of Quickline’s strategy to forge ahead with the provision of gigabit-capable broadband, using its hybrid network approach of 5G and full fibre in secluded regions predominantly in northern England.
The specialist supplier plans to invest over £500m in the coming years to level the playing field for rural premises and close the digital connectivity gap.
Boundless is a broadband infrastructure provider operating an end-to-end fibre and wireless network, which focuses on connecting residential and business communities also in the North of England, with premium superfast and increasingly ultrafast services.
Having Boundless on board significantly increases the scale of Quickline’s infrastructure and internet operations, as well as adding an even greater level of expertise in both wireless and full fibre network builds.
Together, the two businesses will achieve a significant wireless and fibre infrastructure covering much of Yorkshire and Lincolnshire and parts of neighbouring counties.
The combined group – which will have over 10,000 customers and close to 100 employees – will see its investment enable more than 500,000 rural premises connect to gigabit-capable broadband, as well as creating hundreds of additional jobs across the region.
Sean Royce, Quickline’s CEO, said: “We are delighted to be announcing such a significant acquisition with a business which shares our company vision.
“Boundless has been making great inroads in delivering excellent quality lightning-fast broadband to many businesses and homes in less urbanised towns and villages, changing many people’s lives for the better. An objective at the heart of what Quickline is about.
“Through this acquisition we can advance the scale of Quickline’s operations and network reach, which will be of benefit to the many communities that have been left to make do with substandard internet services.”
Hood added: “Quickline’s reputation as a leader cornering this part of the market was very attractive to us as a business.
“By merging our assets, we have considerably strengthened our ability to grow our reach and enhance our services.
“We are now looking ahead to a very exciting period of growth together and with our pool of incredibly talented people, we are looking forward to the challenge ahead.”