Manchester connectivity provider Telcom Group has acquired London-based Luminet in an undisclosed deal.
The acquisition will give Telcom Group, which has a workforce of 191 and received a £63m investment from Gresham House in 2021, a footprint in London as part of their growth strategy.
Luminet, which was founded in 2005, employs 34 staff and is London’s largest fixed wireless network operator and leading business-to-business connectivity provider.
Christopher Baldock, Telcom Group’s chairman, said: “The board of Telcom are delighted to be working with the team at Luminet whose London footprint and strong channel proposition will complement and integrate into Telcom’s network infrastructure and provide a platform for our product portfolio of applications, products and services aimed at the business market.”
Simon Adcock, head of portfolio and co-fund manager of sustainable infrastructure funds at Gresham House, said: “We are very pleased to welcome Luminet into Telcom Group.
“The two businesses are a strong strategic fit in terms of their culture and values, the geographies they cover, and the products and service they provide.
“The acquisition will provide a platform for the accelerated growth of Telcom with the ability to service business customers on-net across the UK.”
Shaun Gibson, co-founder of the full fibre, full stack Telcom Group, commented: “Luminet provides the key London footprint to complement our Hypercity fibre networks with Manchester, Leeds, Liverpool and Birmingham now complete, we are rapidly becoming the go to high-speed network provider for business customers and channel partners throughout the UK.
“The combination of Telcom and Luminet sees Telcom Group become the largest B2B fixed wireless network provider in the UK and helps accelerate our ability to support Britain’s digital revolution and ultimately connect customers, to a network that’s built for greatness.”
Luminet was one of the first to offer commercial wireless broadband solutions to businesses and has grown its London client base to over 1,000 businesses.
Telcom Group provides full fibre and final mile wireless connectivity to businesses, channel partners and commercial landlords across the UK.