Liberty Global’s investment fund, Liberty Global Ventures, has invested £7.5 million (€8.9 million) in broadband cable technology provider Technetix.
The network transmission technology specialist will use the investment for “further market traction” and to fund a “broader range of business opportunities”.
Commenting on the investment Technetix CEO, Paul Broadhurst, said that the deal further cements the company’s already close relationship with Liberty Global.
“We are resolutely focussed on delivering the next generation technology platforms to market which form a key part of our customers’ networks allowing expansion, better efficiency while minimising total cost of ownership. The funding will assist in scaling our business in all areas to meet future growth,” said Broadhurst.
Colin Buechner, managing director, access network of Liberty Global, said: “Technetix is a key partner to Liberty Global delivering unique expertise and technology know-how. We look forward to partnering even closer with Technetix as a result of this investment.”
Technetix supplies critical headend and access transmission systems for fibre and hybrid fibre coax networks. Liberty Global Ventures comes on board as a new investor in the firm.