FullFibre and Zzoomm have agreed to merge to form one of UK's largest altnets with 600,000 ready-to-serve properties and over 65,000 customers, positioning the company well for further M&A.
The merger – which the company says represents a “significant step in its journey” - combines two complementary networks and operating models and will have one of the largest full fibre footprints.
This will create significant opportunities to accelerate customer growth, 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 ISPs, unlocking new revenue streams.
Matthew Hare, CEO of Zzoomm, will become Executive Chairman and James Warner, CEO of FullFibre, will be Group CEO.
The management teams from both companies have proven track records, with relevant experience, expertise and resources to lead and develop the enlarged group faster, providing broadband services to consumers, businesses and wholesale markets.
The merger is subject to final documentation execution and regulatory approval, expected early in 2025.
Matthew Hare, CEO of Zzoomm, commented: “Zzoomm has delivered for many years organic growth across its network, consistently stating 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 a platform to combine with other altnets in the near future as well as driving organic growth faster.”
James Warner, CEO of FullFibre, commented: “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.”