+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
Loading...
News Article

CityFibre Agrees to Goldman Sachs Buyout

News

The board of UK fiber to the premises (FTTP) infrastructure provider CityFibre has agreed to accept an acquisition offer worth £537.8 million (USD $750 million) from a consortium that includes Goldman Sachs' West Street Infrastructure Partners and funds, which is managed by private equity firm Antin Infrastructure Partners. The deal also is said to have the nod of current CityFibre shareholders Invesco Asset Management Ltd., Woodford Investment Management Ltd., Pelham Capital Ltd. and Jupiter Asset Management Ltd.

The deal comes as CityFibre embarks on an ambitious expansion of its FTTP networks that was announced in 2017. Those plans included partnering with Vodafone. According to CityFibre Chairman Chris Stone the sale will help fund the planned expansion.

"CityFibre has established itself as a leading independent provider of wholesale fiber infrastructure in the UK and has been on a transformational journey since its IPO in 2014. Your board believes that this transaction represents compelling value for CityFibre's existing shareholders and is also a good solution for CityFibre's long-term funding," Stone said as part of an acquisition announcement. "Under private ownership, CityFibre will be able to gain alternative and potentially easier access to the financing required for its announced FTTH deployment. This will strengthen the company's ability to deliver on its vision to provide full fiber infrastructure to 20 percent of the UK market."

The consortium's offer of 81 pence per share of CityFibre stock represents a 93 percent premium on Monday's closing price.

EMCORE announces integration of PICs into its products
Scottish photonics consortium wins £4.7m in UKRI funding
Yuanjie Semiconductor to supply lasers to POET
Fraunhofer IPMS announces government funding for quantum photonic chip
POET Technologies partners with Yuanjie Semiconductor Technology
SiLC announces silicon photonics systems for machine vision
Scientists develop novel optical modulators for integrated photonics
Scientists report integrated photodiodes on TFLN
Coherent wins award for innovative photonics product
FBH to present quantum technology developments at EQTC 2023
Skorpios and FormericaOE demonstrate PICs in 800G optical transceivers
EFFECT Photonics verifies fully integrated InP PIC
NASA awards grant for silicon photonics project
OpenLight and Spark Photonics partner on PIC design services
DustPhotonics announces 800G chip for hyperscale data centres and AI
Lightwave Logic Receives Industry Innovation Award
Imec announces SiGe BiCMOS optical receiver
SiFotonics announces silicon photonics 800G LPO solutions
Rockley Photonics progresses noninvasive biomarker monitoring
MantiSpectra secures €4 million for miniaturised spectrometers
Sivers to demo next-gen laser arrays at ECOC 2023
ASMPT AMICRA and Teramount collaborate on silicon photonics packaging
Quantum Computing Inc. selects Arizona site for photonic chip foundry
German government to fund ams OSRAM optoelectronic semiconductor development
Luceda Photonics introduces new PIC design software
Vodafone explores silicon photonics for future mobile networks
Coherent introduces 1200 mW pump laser module
Photonics startups invited to apply to Luminate NY accelerator
New tool could improve lithography for smaller, faster chips
InP-based lasers surpass 2.2 mm
Indie Semiconductor buys Exalos AG
New technique controls direction and wavelength of emitted heat

×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the PIC Magazine, the PIC Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: