Circet Acquires Qube

Paris, 23 rdDecember 2022 – Circet, the leading provider of telecom infrastructure services in Europe today announces the acquisition of Qube GB, the UK’s leading in-home telecom maintenance specialist. The acquisition of Qube will see the Circet group further strengthen its range of services to the UK telecom service market.

Founded in 2007 by Raymond Kerr and Darren Bunker to provide specialist engineering services to ISPs and large telcos. Qube currently employs c.700 people across the UK.

Circet and Qube already individually service numerous major network operators, and through this partnership will further increase the scale and expertise offered to their clients. The combination of the two businesses also sees them strengthen the last-mile proposition to altnets and full fibre network builders, which is anticipated to be a significant growth driver of the UK telecoms installation market over the next number of years as more homes and businesses shift to full fibre.

Donagh Kelly, Deputy Chief Executive Officer at Circet, commented:

“The combination of Qube and Circet creates a powerhouse in terms of residential and business connections for the telecoms sector across the UK. Not only is our geographical presence enhanced, the service offering from the combined businesses creates end-to-end solutions for clients in the truest sense, from the exchange to the living room. The team at Qube have been very impressive to date and we look forward to joining forces and achieving great things together.”

Raymond Kerr and Darren Bunker, Co-founders at Qube, commented:

“We are proud of this agreement which allows Qube to join Circet, an international company with a leading position in the most relevant European countries and with an ambitious growth plan outside Europe. Most importantly, this combination will allow the team we have built at Qube to continue to grow the business and further develop as part of a larger organisation.”

Mussy Kurt-Elli, CEO at Qube, commented:

“This is a great result for Qube, we are really excited for what this means for the future of the group and the continued commitment to working closely with our clients”

Acuity acted as financial advisor to Qube, with Osbourne Clarke providing legal advice. Circet were advised by Eight Advisory and Shearman & Sterling.

About

Circet is the leading network infrastructure services provider in Europe. The company operates in the fast-growing network infrastructure services market, supported by massive investments for rolling out fixed and mobile super-fast broadband. As the leader in Europe (notably in France, the United Kingdom, Ireland, Germany, Spain, Belgium, and the Netherlands), Circet’s customer base includes the leading telecom operators (Orange, Altice, Iliad, British Telecom, Eir, Deutsche Telekom, Telefonica, Vodafone, Proximus, KPN, among others), local authorities and companies specializing in rural deployment to bridge the digital divide, and key government-owned and private companies that own infrastructure. Circet is present in 14 countries, with revenues of c.€3bn euros for the current year and over 14,000 employees.

For further information: • www.Circet.com • www.QubeGB.com