Acquisition of Upp Corporation
by nexfibre and Virgin Media O2

Deal typePrivate Equity & Transaction Services
IndustryTechnology & Media
Client nameNexfibre / VMO2

BDO has provided buy-side financial, tax and SPA services on the acquisition of Upp Corporation by nexfibre and Virgin Media O2.

Nexfibre and Virgin Media O2 has acquired Upp Corporation, a broadband provider that services the east of England. Upp has about 4,000 retail and business customers and has a catchment area of about 175,000 premises.

Nexfibre is a joint venture between Liberty Global, Telefonica and InfraVia Capital Partners.

Virgin Media O2, owned by Liberty Global and Telefonica, will initially acquire the company to undertake the integration process and complete Upp's ongoing network build. Once complete, nexfibre will acquire the network assets.


“We have enjoyed working closely and flexibly with the Virgin Media O2 and nexfibre teams on this rapidly executed transaction. The completion of the deal sees the accelerated expansion of Virgin Media O2 and nexfibre’s full fibre network into the East of England."

Jonathan Rowan, Partner and Head of Telecoms and Infrastructure, BDO LLP