26th April 2022
DSW advises ITS on £100m investment for broadband roll-out
Dow Schofield Watts advised ITS on the investment. Since securing the first funding round of £45m from Aviva Investors in early 2020, ITS has significantly increased its network footprint. The Faster Britain system is set to pass 25% of UK business premises by the end of this year.
ITS’s Faster Britain partner programme has also grown substantially, with more than 300 reseller, internet service provider, and managed service provider partners now able to access and provide Faster Britain Gigabit-capable connectivity to end-users.
As a result, ITS has tripled its revenues year on year, and was EBITDA positive in fiscal year 2021, a strong financial position it will build on again this year.
ITS chief executive, Daren Baythorpe, said: “We have made significant progress over the last two years, building a highly skilled team, scalable delivery capabilities, and creating a substantial full fibre footprint. This further commitment will enable us to continue to roll-out our open access wholesale digital infrastructure at pace, giving more businesses access to the connectivity solutions they need to underpin their operations.”
Sean McLachlan, senior director, infrastructure, at Aviva Investors, said: “There has been a huge structural shift in data usage in recent years which continues to accelerate, and the continued investment in digital connectivity is fundamental to supporting how society functions today and tomorrow. ITS has made significant progress and outlined a clear vision to address this need.”
ITS re-uses existing infrastructure, or a ‘dig once’ approach, to build its full fibre networks which avoids the unnecessary disruption of road digs. It can install end-user Faster Britain connections quicker than the industry norm, often in days.