Hyperoptic plans to deliver 5 million fibre to the home connections in the UK by the mid 2020s
UK based fibre to the home (FTTH) pioneer, Hyperoptic, has received a multi million pound investment from an Abu Dhabi based sovereign wealth fund.
The $200 billion Mubadala Investment Fund will take a minority stake in the company, as Hyperoptic looks to fast track its plans to roll out FTTH services across the UK.
Hyperoptic has plans to pass 5 million homes with its full fibre network by 2025, realising a third of the UK government’s target for 15 million FTTH connections by the mid-2020s. Hyperoptic already has over half a million FTTH customers connected to its UK network.
Hyperoptic are one of a handful of companies taking a proactive lead in the UK’s full fibre revolution and was recently recognised for its commitment at the World Communication Awards. Hyperoptic scooped both the Broadband Pioneer Award and the much coveted CEO of the Year Award, at a glittering ceremony in London last week.
"The last 12 months have seen several milestones for Hyperoptic, significantly expanding our coverage and developing the largest and fastest growing gigabit network in the UK," said Steve Holford, Chief Customer Officer at Hyperoptic.
"Our CEO’s drive, insight and passion has been key to our success. Dana’s leadership and vision to redefine connectivity and deliver Gigabit Britain has been phenomenal and now the whole market is following in our footsteps," he added.