CityFibre, a U.K. independent full fiber platform, has agreed to acquire alternative fiber network Lit Fibre from Newlight Partners.
The share-based acquisition will see Newlight Partners become minority shareholders in CityFibre and is expected to be completed in second quarter 2024.
Lit is a vertically integrated alternative fiber network, comprising a network builder and internet service provider (ISP). It has a current footprint of more than 200,000 premises across more than 20 towns in Wiltshire, Gloucestershire, Hertfordshire, Worcestershire, Essex and Suffolk, and serves a rapidly growing subscriber base of more than 9,000 retail customers.
CityFibre intends to complete Lit’s work-in-progress deployment as well as the majority of its planned network rollouts. Lit is on track to deliver up to 100,000 further premises by early 2025. Its network is built exclusively using existing poles and ducts.
“The U.K. market needs a third infrastructure plat