The investment firm, KKR, announced it has bought a majority stake in Hyperoptic, using funds from Newlight Partners and Mubadala Investment Company. The terms of the deal were not disclosed.
Founded in 2011, Hyperoptic has a full fibre network that covers 43 towns and cities in the UK, with gigabit broadband services passing almost 400,000 homes and businesses.
“We are incredibly grateful to Newlight and Mubadala for their unwavering support and significant contributions to the success of Hyperoptic. Currently, only 8% of the UK has access to full fibre and less than half of that to symmetrical gigabit services. We are confident that with the support of KKR and their significant expertise enabling high-growth businesses, our ambitious infrastructure plans to build our hyperfast network out to two million homes by 2021 and five million by 2024 will be realised.” Dana Tobak, CEO Hyperoptic
KKR has a track record investing in European telecommunications infrastructure, including major joint ventures with Telxius (Spain) and Altice (France) that are focused on mobile connectivity and towers. It also owns Deutsche Glasfaser, a leading German fibre broadband provider.