KCOM has announced the sale of its ICT business to Nasstar, an established managed services specialist that provides an integrated suite of IT services and solutions.
Subject to completion conditions, KCOM said the move will enable it to focus on its core strategy as a regional provider of full fibre broadband, as well as growing its presence in retail and wholesale markets.
The sale follows an in-depth strategic review of its national ICT business to find opportunities for its development, as well as determine its position within the company’s long-term strategy. The sale is expected to close over the coming weeks.
“We have agreed the sale of our national business to Nasstar, a UK provider of managed communications and cloud services to large businesses and public sector organisations,” said Dale Raneberg, CEO of KCOM. “Our regional wholesale and retail operations in Hull, East Yorkshire and North Lincolnshire will remain part of KCOM and the focus of our business.
“Our team is investing £100 million to expand our regional network, through which we are making full fibre broadband available to consumers and businesses in more towns and villages across East Yorkshire and North Lincolnshire.”
A managed services specialist with offices around the UK, Nasstar provides an integrated suite of services, ranging from cloud computing to networking and communication solutions.
KCOM said the company will be a “good home” for its ICT business, tipping Nasstar to unlock further growth through its focus on providing manages services to multi-nationals and enterprises.
“Acquiring the national ICT services business of KCOM will form a vital part of Nasstar’s growth strategy, and it will be integrated into the business, adopting new, efficient, and scalable systems, and enabling customers to access an enhanced product set,” commented Wayne Churchill, Nasstar CEO.
"We recognise the value and opportunities the combination of KCOM’s people, capabilities and customers from the national ICT services business of KCOM represent, and we are confident our strategy will turn this potential into long-term growth and success.”
