UK fiber provider CityFibre has sold Lit Fibre's consumer Internet Service Provider business to its co-founders, Tom Williams and Ben Bresler.
The sale of the ISP subsidiary, announced last week, comes just months after CityFibre acquired Lit Fibre.
CityFibre carried out the sale, reiterating the company's plans to operate as a wholesale-only model.
Financial terms of the transaction were not disclosed, though CityFibre noted the deal won't impact existing Lit Fibre customers.
Lit Fibre serves more than 200,000 homes across counties including Wiltshire, Gloucestershire, Hertfordshire, Worcestershire, Essex, and Suffolk, and serves a subscriber base of approximately 10,000 retail customers.
Providing an update since its acquisition of Lit Fibre, CityFibre revealed that the company is now fully onboarded to its national infrastructure platform, meaning it can provide symmetrical speeds of up to 2.5Gbps anywhere over the nationwide, full fiber network.
As part of that transaction in May, CityFibre outlined plans to integrate its 10Gbps XGS-PON network infrastructure into CityFibre’s carrier-grade network, which it expects to complete later this year. The integration will expand CityFibre’s nationwide full fiber network by up to 300,000 premises, as part of its plans to reach at least eight million premises.
“Our strategy has always been to be the wholesale provider of choice, building a nationwide, full fiber network that enables all of our partners to access market-leading products, pricing, and service and gives consumers a greater choice of full fiber ISPs," said Greg Mesch, CEO at CityFibre.
"We are really pleased to see Lit Fibre continue with its co-founders, who are passionate about the business, and we look forward to continuing to partner with Lit Fibre across our network."
Founded in 2011, CityFibre is a fiber-only provider. The company's network passes 3.9 million premises, according to Mesch, putting it slightly behind Virgin Media O2's 5.3 million. Both trail Openreach, a subsidiary of BT Group, which has passed around 14 million premises.
Back in September, Mesch declared that alternative network providers (altnets), such as CityFibre, have sparked the UK's fiber push.
