An internet service provider has announced plans to recruit more than 200 staff and connect more than 300,000 homes with high-speed broadband across the South West.
Giganet has already begun work on its own full-fibre network in Dorset, Wiltshire, Hampshire and West Sussex, where job creation will be concentrated, with more locations to follow, it said.
The business, which has an office near Fareham, Hampshire, revealed its accelerated growth plans following a £250m investment from its new owner Fern Trading, which has acquired Giganet's parent company M12 Solutions.
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Giganet said the money would be used to help it offer high-speed full-fibre connectivity to more than two million homes and businesses in the 海角视频, and significantly increase its existing offering on CityFibre and Openreach fibre.
The company’s founders, Andrew and Matthew Skipsey, will join newly appointed chief executive Jarlath Finnegan to deliver the plans.
Mr Finnegan said: “Together with Fern Trading, Giganet now has the resources to quickly connect lots more customers across the 海角视频.
“As an experienced provider, it is an exciting time for Giganet as we look to become the best performing ISP in the region, bringing people together like never before and creating sustainable high tech job opportunities for local communities.”
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Octopus Investments advised on Fern Trading’s funding injection into Giganet.
Rob Skinner, head of alternative investments at Octopus Investments, said: “We’re really excited about Giganet’s plans to bring full-fibre connectivity to customers in need of an upgrade from slow copper broadband.
“Working with Openreach and CityFibre, as well as building its own fibre network in underserved areas, Giganet will be bringing a broadband service with a reputation for excellent customer service to a huge number of homes and businesses. We look forward to helping Giganet become one of the 海角视频’s leading full-fibre ISPs.”
Fern Trading is a large trading group that consists of over 200 companies with business interests across the 海角视频 and France.
As well as owning more than 150 companies that generate energy from renewable sources such as solar and wind, Fern Trading has also invested in Exeter-based internet service provider Jurassic Fibre.