AID­ING AIR­BAND

Cotswold Life - - LEGAL & FINANCIAL -

Thurs­fields So­lic­i­tors has ad­vised wire­less broadband sup­plier Air­band on se­cur­ing a £16 mil­lion in­vest­ment through the Na­tional Dig­i­tal In­fra­struc­ture Fund (NDIF), which sup­plies su­per­fast and ul­tra­fast broadband to ru­ral ar­eas.

The in­vest­ment will en­able Air­band to ex­pand its net­work to an ad­di­tional 50,000 busi­ness and homes in Eng­land and Wales by 2021.

As part of the deal, NDIF has also ac­quired a sub­stan­tial mi­nor­ity share­hold­ing in Air­band.

Thurs­fields’ di­rec­tor Gareth Burge says, “Air­band is a fam­ily-owned in­ter­net ser­vice provider which spe­cialises in pro­vid­ing fast broadband to ru­ral ar­eas that con­ven­tional sup­pli­ers don’t cover. We have en­joyed work­ing with Air­band founders Red­mond and Mi­randa and are de­lighted to have ad­vised on this lat­est trans­ac­tion.”

The NDIF is a com­mer­cial fund sup­ported by the Gov­ern­ment’s £400 mil­lion Dig­i­tal In­fra­struc­ture In­vest­ment Fund.

Red­mond says, “Pro­vid­ing bet­ter in­fra­struc­ture and con­nec­tiv­ity to ru­ral ar­eas of the UK is at the heart of the Gov­ern­ment’s plan for growth - and is cru­cial in the post-brexit econ­omy. This £16m in­vest­ment means that we are able to play a key role in cre­at­ing this bet­ter in­fra­struc­ture.”

Air­band of­fers fast con­nec­tiv­ity to 20,000 homes, lo­cal au­thor­i­ties, SMES, char­i­ties and emer­gency ser­vices in Worces­ter­shire, Glouces­ter­shire and War­wick­shire.

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