Hyperoptic builds new broadband network

A broadband company backed by George Soros, the billionaire financier, is working with 100 of Britain’s biggest property developers, including Barratt, Berkeley Homes and Crest Nicholson, to lay high-speed connections to newly built houses and flats. Hyperoptic, which raised GBP100 million from a consortium of banks in July and GBP50 million from Mr Soros’s Quantum Strategic Partners fund in an earlier fundraising, is one of a handful of independent operators in the UK broadband market, building their own rival networks to compete with BT and Virgin Media. Rather than seeking to compete head on with these industry giants, Hyperoptic’s strategy is focused on hooking up new housing and office developments with 1 gigabit full-fibre broadband, much faster than anything offered by the mainstream players.


Leave a Reply

Your email address will not be published. Required fields are marked *