TrueSpeed Secures £75 Million from Aviva Investors to build Ultrafast Full Fibre

Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has committed £75 million to TrueSpeed Communications Limited (“TrueSpeed”) to support the roll out of TrueSpeed’s ultrafast full fibre broadband network across South West England.

Established in 2015 to deliver a fibre-optic infrastructure network across South West England, TrueSpeed provides residential and commercial customers with multi-gigabit capable symmetrical speeds through a full fibre network. TrueSpeed already provides this service to homes connected to its fibre-to-the-premises (FTTP) network throughout the Chew Valley, Somerset, transforming the way people live and work in rural communities.

The partnership with Aviva Investors allows TrueSpeed to accelerate its expansion strategy to pass up to 75,000 homes and businesses in the region.

Ian Berry, Head of Infrastructure Equity, Aviva Investors

“I am delighted that Aviva Investors has helped bring this innovative partnership with TrueSpeed to fruition. This is another example of how we work to support the delivery of essential infrastructure in the UK, while also providing our institutional investor clients with access to long-dated income streams to help ensure the payment of pensions potentially decades into the future.”

Sean McLachlan, Senior Director, Infrastructure Equity, Aviva Investors

“Aviva Investors is pleased to support the rollout of TrueSpeed’s ultrafast FTTP network.  There is a clear and growing demand for this essential infrastructure across the country, in particular rural locations. The funding Aviva Investors is providing will allow TrueSpeed and its management team to accelerate its business plan and network expansion to provide world class infrastructure to users who are currently underserved.”

TrueSpeed CEO, Evan Wienburg

“This is brilliant news for the residents and businesses in our region. This significant investment will enable TrueSpeed to roll out the full fibre network infrastructure and services the region has needed and will provide our customers with a high quality broadband and data capabilities for the first time. This brand new infrastructure will be capable of handling the speed requirements of our customers now and in the future at a competitive price and with a regional service focus.

My whole team is very much looking forward to working with Aviva Investors and delivering some of the fastest and most reliable internet found anywhere in the world. Fast, Fair, Forever!”

Notes to editors

The information and opinions contained in this document are for use by the financial press and media only, and do not purport to be full or complete. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested.

The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media.

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 10 July 2017.

Aviva Investors

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 15 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £345 billion as at 31st December 2016.

Aviva plc

• Aviva provides life insurance, general insurance, health insurance and asset management to 341 million customers, across 16 markets worldwide

• In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.

• Aviva helps people save for the future and manage the risks of everyday life; we paid out £24.6 billion in benefits and claims in 2014.

• By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.

• The Aviva media centre at http://www.aviva.com/media/ includes company information, images, and a news release archive.

• For an introduction to what we do and how we do it, please click here http://www.aviva.com/about-us/aviva/

• For broadcast-standard video, please visit http://www.aviva.com/media/b-roll-library/

• Follow us on twitter: www.twitter.com/avivaplc/

References

1 Before the deduction of Aviva and Friends Life overlapping customers.

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