Telcom Group has acquired London-based high-speed fibre network provider Luminet.
The acquisition was backed by asset management firm Gresham House, which initially committed to invest £63 million into the Telcom Group in 2021 through its British Strategic Investment Fund (BSIF).
Luminet was founded in 2005 as an ethernet connectivity specialist across fixed wireless and fibre.
“The board of Telcom are delighted to be working with the team at Luminet whose London footprint and strong channel proposition will complement and integrate into Telcom’s network infrastructure and provide a platform for our product portfolio of applications, products and services aimed at the business market,” said Christopher Baldock, Telcom Group’s Chairman.
Shaun Gibson, Telcom Group Co-Founder added, “Luminet provides the key London footprint to complement our Hypercity fibre network. With Manchester, Leeds, Liverpool and Birmingham now complete, we are rapidly becoming the go to high-speed network provider for business customers and channel partners throughout the UK.
“The combination of Telcom and Luminet sees Telcom Group become the largest B2B fixed wireless network provider in the UK and helps accelerate our ability to support Britain’s digital revolution and ultimately connect customers, to a network that’s built for greatness.”