INPP invests up to £9.9m in fibre infra company
International Public Partnerships Ltd.
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16:40 19/04/24
Infrastructure investment company International Public Partnerships (INPP) on Friday said it would invest up to £9.9m in Nextgenaccess (NGA), a developer of ultrafast wholesale and custom fibre internet infrastructure.
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The funding will help finance plans to deploy over 1,000km of new strategic high-capacity fibre routes across the UK by the end of 2020, INPP said.
INPP said the deal falls within the framework of its already announced overall commitment of up to £45m to digital infrastructure via the National Digital Infrastructure Fund (NDIF), alongside the UK government.
INPP's investment is part of the NDIF's overall £22m investment into NGA announced on Friday.
NDIF will acquire a “substantial minority shareholding” in NGA and provide capital facilities to support its growth, INPP said.