(Alliance News) - International Public Partnerships Ltd on Tuesday said NextGenAccess Ltd has been sold to ITS Technology Group Ltd, for an undisclosed amount.
Back in October 2018, the London-based infrastructure investor said it would invest up to GBP9.9 million in NextGenAccess.
NextGenAccess is a developer of ultrafast wholesale and custom fibre infrastructure across England and Wales.
The investment fell within the company's commitment to invest GBP45 million in digital infrastructure via the National Digital Infrastructure Fund alongside the UK Treasury.
NDIF has financed a major extension of NextGenAccess' networks across the UK, notably in Bristol, Newport, Essex and London, the company noted.
NextGenAccess will continue to operate as a stand alone business as part of ITS Technology, a Warrington-based full-fibre network operator, International Public Partnerships added.
Shares in International Public Partnerships were down 0.1% to 162.41 pence each in London on Tuesday morning.
By Sophie Rose; sophierose@alliancenews.com
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International Public Partnerships (INPP)