Italian telecommunications equipment and ICT company, Italtel, has announced that it has reached an agreement to sell its UBB (Ultrabroadband) business unit to Fibermind, a Milan-based company within the Maticmind group specialising in consulting and assisting in the construction of infrastructural networks for fibre optic connections, for an undisclosed sum.
Italtel's Growth Strategy
Italtel announced this development on Wednesday, stating in its official release that this move represents a significant step in Italtel's growth journey. It aligns with its industrial plan to refocus on digital transformation, network integration solutions, and ICT services, as well as on strengthening segments such as cybersecurity, cloud, analytics and automation, and IoT.
UBB Business Unit
The UBB business unit of Italtel is dedicated to designing fibre optic FTTH (Fibre To The Home) and radio FWA (Fixed Wireless Access) access networks. It is staffed by a specialised team of approximately 100 professionals.
To facilitate this transaction, Italtel said it has established a new company (Newco) that will hold the UBB business division and will subsequently be fully acquired by Fibermind.