HighSpeed Office ("HSO") the provider of broadband communication services to small and medium sized businesses, has successfully raised £15.3 million from a consortium, which in addition to Marconi Corporation Plc includes several of the UK's leading commercial property owners, namely The British Land Company Plc, Canary Wharf Group Plc, Legal and General Property Ltd, Morley Fund Management Ltd, Prudential Property Investment Managers Limited and Morgan Stanley Dean Witter.
In November last year, HSO raised early stage financing from ARC Associates ("ARC") and Marconi Corporation.
This second round of funding is part of a transaction whereby HSO has won the contract with consortium members to provide network and services to over 2,000 U.K. buildings accounting for around 85 million square feet of commercial real estate.
ARC Associates, a specialist investment banking and advisory firm to the TMT, financial services and property sectors, acted as a financial advisor to HSO in this transaction. Commenting, John Allen, Chairman of ARC Associates said: "ARC is pleased that the initial confidence it had in HSO has been reinforced by the inclusion of this first class group of investors."
HSO installs the telecommunications infrastructure in multi-tenanted office buildings, offering a comprehensive range of communications services to tenants, including voice, high speed internet, secure email, video, web hosting and data services.
ARC Associates is a specialist investment banking and advisory firm to the telecommunications, media, technology, financial services and property sectors.
Contact:
John Allen, Chairman
ARC Associates
+ 44 (0) 20 7614 4000