Aviva Investors acquires ITS Technology Group from Maven.
Aviva Investors has acquired ITS Technology Group from Maven for an undisclosed amount.
ITS Technology Group designs, builds, and operates wholesale full fibre networks across business dense locations in the UK.
Aviva Investors has acquired ITS Technology Group from Maven for an undisclosed sum. The transaction follows previous backing from Maven VCTs and the Northern Powerhouse Investment Fund, which initially invested in 2017 and 2018 respectively.
ITS specialises in deploying full fibre and hybrid networks using existing infrastructure to accelerate deployment times and minimise local disruption. The change in ownership provides the company with access to substantial capital to pursue further opportunities in the UK fibre market.
Management noted that Maven provided valuable support and financial backing during a period that saw the firm transform into a dedicated network operator. The new ownership structure marks the beginning of a fresh growth phase for the business.
From the founder
"I would like to thank Maven for its support over the last three years. They have provided excellent financial backing, advice and counsel which has helped enable the business to transform into a focussed network operator that is disrupting the full fibre marketplace. It has seen us build a strong business, develop a very capable team, and put us in a great place to start the next phase of our growth."
Daren Baythorpe
CEO at ITS Technology Group
Use of funds
- 01Invest in sales and marketing
- 02Scale operations
- 03Expand into international markets
Investors
Categories
About the company
ITS Technology Group
Wholesale full fibre provider delivering Gigabit capable connectivity to UK businesses.