The arrival of the summer season in the UK has brought more than a Presidential visit, it’s brought a bidding war for KCom. The Australian infrastructure fund Macquarie has waded in with a bid of £563m, to which KCom’s board has now agreed.
The pension fund Universities Superannuation Scheme had previously agreed to buy KCom for £504m in late April. Whether this is the final salvo in the bidding war is unclear, but it does look as if other bidders are folding up shop in the wake of Macquarie’s new bid.
KCom is a UK-spanning managed cloud and network services provider that evolved from a regional provider serving Hull and the surrounding communigies in East Yorkshire. Four years ago they sold off the fiber piece of the business to CityFibre, and now the rest is looking for a new home as well.
Macquarie has rapidly become a force in the market for infrastructure assets in both North American and Europe. Earlier this spring they did a deal for Bluebird and a piece of Uniti in the Midwestern US, last spring they took a big stake in the data center provider Aligned Energy, and they also were part of the winning bid for the Danish provider TDC last year as well.
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