FullFibre and its in-house ISP retail company, BeFibre, and Zzoomm, have agreed to merge.
The combined altnet group will have one of the largest full fibre footprints, with an estimated 600,000 properties ready for service and over 65,000 customers. The merged businesses aim to accelerate growth, enhance operational efficiency and lead on further mergers and/or acquisitions across the fragmented Altnet sector in the UK.
Matthew Hare, CEO of Zzoomm, will become Executive Chairman and James Warner, CEO of FullFibre, will be Group CEO.
The merged entity combines two complementary networks and operating models, which creates opportunities to accelerate customer growth across a larger footprint, secure funding for new builds and future mergers, and achieve greater operational and financial efficiencies through economies of scale.
Additionally, the partnership will enhance wholesale services for internet service providers (ISPs), unlocking valuable new revenue streams. The merger is subject to final documentation execution and regulatory approval, expected early in 2025.
Matthew Hare, CEO of Zzoomm, commented:
“With our clear focus on serving happy customers with brilliant broadband, Zzoomm has delivered for a number of years industry leading organic growth across its network. We have consistently stated our strategy is to grow organically and by M&A* in this fragmented market.”
“An enlarged business with the operational and financial infrastructure, benefitting from the economies of scale, as well as a management team with an exceptional track record, we will have an excellent platform to combine with other Altnets in the near future as well as driving organic growth faster.”
James Warner, CEO of FullFibre, commented:
“This merger represents another significant step in our journey. With a shared commitment to delivering transformational full fibre connectivity with exceptional customer experience, this deal strengthens our collective ability to grow even faster and seize new market opportunities.
“For FullFibre, this is our second merger and another milestone in our mission to create a 21st-century digital backbone for the nation. Following our recent successful integration with Digital Infrastructure and BeFibre, this next merger further accelerates our ambitions to lead the market and provide unmatched connectivity to homes, businesses, and wholesale partners alike.”
*Mergers and Acquisitions
