Airband announced that Aberdeen Standard Investments (ASI) has acquired a majority stake, with the founders and Amber Infrastructure retaining minority stakes in the company. ASI will fund the growth in Airband’s team and operations to help it deliver its Fibre to the Premises (FTTP) ultra-high-speed broadband services to more than an additional 500,000 premises by 2025.

Airband and its management team will benefit from having an aligned shareholder group bringing together an experienced partner with deep infrastructure knowledge and continued input from existing investor, Amber Infrastructure. The shareholders have a joint objective of sustainable growth of the business by supplying customers with fast, reliable, and cost-effective broadband in rural communities. Airband will increase its coverage to new premises by providing the infrastructure to local communities, in a combination of subsidised and unsubsidised capital spend, which ASI will be responsible to provide.