Feeds

George Soros pumps £50m into fibre-gobbling ISP Hyperoptic

Wants to sign up 500k UK homes by 2018

Providing a secure and efficient Helpdesk

Hyperoptic - a relatively new player in the UK's ISP market - confirmed today that it had received a massive cash injection of £50m from investors to help the company expand its fibre-to-the-home business.

The telco, which currently offers 1 Gbit/s fibre-to-the-home (FTTH) technology to Londoners, was founded in 2010 by Boris Ivanovic and Dana Tobak - the people behind Be Unlimited.

The multi-million pound cash injection was dropped into Hyperoptic's piggy bank today by Quantum Strategic Partners, an investment outfit managed by Soros Fund Management LLC - biz magnate George Soros's investment vehicle - which aims "to deliver true hyperfast broadband across the UK".

Tobak told your correspondent in June 2012 that her company planned to bring its network to more cities across the UK. At the time, Hyperoptic's MD said she expected to see a full rollout this year, without revealing which cities the company would be targeting.

With the necessary investment now secured, Hyperoptic said today that it hoped to reach more than 500,000 homes with its fibre network by 2018.

Tobak told The Register last year that, by the end of 2017, the ISP wanted to be in 2,500 buildings across the UK.

Hyperoptic said it has deployed its technology to 20,000 homes in London to date. In a canned statement the company said:

The company now aims to bring its ground-breaking FTTH technology to as many as ten additional UK cities by the end of the year, with locations for these ‘hypercities’ to be prioritised based on consumer demand.

Hyperoptic is also planning to offer its FTTH tech to business and commercial premises. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
Bonking with Apple has POUNDED mobe operators' wallets
... into submission. Weve squeals, ditches payment plans
This flashlight app requires: Your contacts list, identity, access to your camera...
Who us, dodgy? Vast majority of mobile apps fail privacy test
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.