BGF has exited its investment in Virtual1, a London-based cloud and connectivity service provider, which it backed in 2017 with a GBP10 million investment, via a sale to TalkTalk Group.
TalkTalk Group provides fibre, broadband, TV and landline services to over four million UK customers, and operates Britain’s biggest unbundled broadband network, covering 96 per cent of the population.
Virtual1 is a provider of B2B connectivity to businesses around the UK. It delivers cloud and connectivity services exclusively to the wholesale market, aggregating its own cutting-edge London-based network with networks from other carriers onto a single scalable platform.
The acquisition by TalkTalk Group will enable Virtual1 to significantly increase its scale as a national provider of Ethernet solutions, and to mutually strengthen the capabilities and market position of both businesses.
As part of the deal, CEO Tom O’Hagan, who founded the business in 2007, will continue to lead Virtual1 as a standalone business.
