Hard-to-reach rural broadband specialist Quickline has agreed to buy a controlling stake in West Yorkshire-based Boundless Networks Ltd.
Fresh from its own acquisition and injection of capital, Hessle has fallen for the broadband infrastructure provider in a deal that will dramatically increase its size and expertise.
Boundless Chairman David Hood OBE will remain on the board as a minority shareholder.
Sean Royce, CEO of Quickline, said: “We are delighted to announce such an important acquisition with a company that shares our corporate vision.
“Boundless has made huge strides in delivering super-fast, high-quality broadband to many businesses and homes in less urbanized towns and villages, improving the lives of many people. A goal at the heart of what Quickline is.
“With this acquisition, we are able to advance the scale of operations and the reach of Quickline’s network, which will benefit the many communities that must settle for substandard Internet services.”
The undisclosed deal for the 51% stake is described as part of Quickline’s strategy to forge its 5G hybrid network and full fiber optic approach to deliver gigabit capacity in remote areas, primarily in the north. from England.
There are plans to invest more than £ 500million in the coming years to ‘level the playing field’ for rural locals and close the digital connectivity divide.
Boundless operates an end-to-end fiber and wireless network, which focuses on connecting residential and commercial communities also in the North of England, with ultra-fast and increasingly ultra-fast premium services.
The combined group will have more than 10,000 customers and nearly 100 employees. Hundreds of additional jobs are expected in the region as more than 500,000 connections are activated.
Mr. Hood said: “Quickline’s reputation as a leader in this part of the market was very attractive to us as a company. By merging our assets, we have significantly strengthened our ability to expand our reach and improve our services.
“We are now looking forward to a very exciting time of growth together and with our pool of incredibly talented individuals, we look forward to the challenge ahead. “
Northleaf Capital Partners acquired the 2008 launch Quickline last month, having struck a deal with Big Blue Broadband in April. The deal could be worth nearly £ 50million as Mr Royce has joined KCom to lead the company’s new era.
Boundless, based at Leeds Bradford Airport, was founded in 2010 by Managing Director David Burns. Mr. Hood joined him five years later, having been the co-founder of set-top box maker Sky Pace. It will continue to be marketed under the branded corporate name from the existing location.