Harris, Pickstock sell U.S. fibre network firm

Two well-known local businessmen have sold their share of a pioneering American tech firm in a multimillion-dollar deal.

In an announcement this morning, APG, acting on behalf of its Dutch pension funds and PATRIZIA, have acquired the interests of SiFi Global which owns the interests of Mike Harris and Roland Pickstock, the founders of SiFi Networks in SiFi Networks Americas LLC.

The transaction follows the substantial completion of SiFi’s initial city rollout of its innovative open-access Fibre-to-the-Premises (FTTP) networks.

The statement read that these deployments have delivered future-proof, gigabit-capable connectivity to homes and businesses across multiple U.S. communities and have established a proven model for privately funded, open-access infrastructure.

“The deal allows both parties to pursue independent paths forward,” the announcement went on. “Harris and Pickstock plan to continue developing additional cities using their proven, market-leading solution, while APG and PATRIZIA will complete the rollout of the existing cities.”

Back in September 2021, APG announced an additional $500 million equity commitment to a joint venture with SiFi Networks to accelerate the deployment of open-access Fibre-to-the-Home (FTTH) networks across the US.

Mr Harris, from Welshpool, is a proven multiple entrepreneur with successful track records in telecoms, IT, managed services, leisure, and sport, where he is the owner of TNS Football Club. He also owns The Pinewood in Welshpool which is expected to re-open this summer.

Mr Pickstock is the Founder and Owner of The Pickstock Group of companies.

About SiFi Networks America

SiFi Networks is North America’s leading privately-owned developer of open-access, citywide 100% fibre networks. Its model funds, builds, and operates FTTP infrastructure that delivers symmetrical gigabit and multi-gigabit speeds while enabling multiple retail service providers to compete on a neutral platform.