Alongside the acquisition, Quintain and Glide have agreed on a strategic partnership under which Glide will operate Quintain’s fibre optic network throughout Wembley Park.
Quintain’s fibre optic network across Wembley Park’s 85-acre estate provides connectivity to almost 5,000 homes, 500,000 square feet of retail and leisure including Boxpark and London Designer Outlet and public Wi-Fi provision across the Wembley Park estate.
Following the acquisition, Glide will take responsibility for the service delivered to the Wembley Park estate. All Velocity1 services will be rebranded under the Glide brand name.
Tim Pilcher, CEO of Glide, said, “Wembley Park is quickly becoming one of the most exciting districts in London. This acquisition will allow Glide to provide the multi-faceted campus with future-proofed, ultra-fast broadband connectivity for years to come, helping Wembley Park continue to thrive as it continues to grow and develop more asset–rich infrastructure to meet the ever-demanding requirements of its residents and commercial tenants”
James Saunders, CEO of Quintain, added, “Velocity1 has, over the last 15 years, enabled Quintain to create a fibre-optic infrastructure across Wembley Park that has been instrumental in the transformation of the estate. As the fibre ISP market has matured, it is now time to partner with an industry-leading provider.
“Our partnership with Glide will allow us to continue growing this critical part of our infrastructure while also benefiting from their industry-leading technical and customer service expertise. Moving forward we want to focus on delivering outstanding customer experiences and are delighted to have found a strategic partner who can help us scale and innovate the services we offer.”
Glide was advised on the transaction by Addleshaw Goddard for legal and BDO for tax and accounting.