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.