AN INTERNET provider is creating 200 jobs with a plan to connect more than 300,000 homes and businesses to its high speed broadband.

The move comes after Fareham-based Giganet was taken over by investment firm Fern Trading Limited and given a £250million injection of funds.

The investment will allow Giganet to offer high-speed full fibre broadband to more homes and businesses across the UK.

Work has already begun on connecting 300,000 addresses in Hampshire, Dorset, Wiltshire and West Sussex, and the 200 staff will be hired across those areas.

Chief executive Jarlath Finnegan said: “Together with Fern Trading, Giganet now has the resources to quickly connect lots more customers across the UK.

“As an experienced provider, it is an exciting time for Giganet as we look to become the best performing ISP (internet service provider) in the region, bringing people together like never before and creating sustainable high tech job opportunities for our local community.”

Giganet uses CityFibre and Openreach infrastructure to deliver its services but will begin construction of its own network.

Its founders, Andrew and Matthew Skipsey, will join new Mr Finnegan and his team on the board.

Rob Skinner from Octopus Investments – which advised Fern trading on its takeover of Giganet’s parent company M12 Solutions – said: “We’re really excited about Giganet’s plans to bring full fibre connectivity to customers in need of an upgrade from slow copper broadband.

“Working with Openreach and CityFibre, as well as building its own fibre network in under-served areas, Giganet will be bringing a broadband service with a reputation for excellent customer service to a huge number of homes and businesses.

"We look forward to helping Giganet become one of the UK’s leading full fibre ISPs.”

Giganet has been an ISP for more than eight years, originally focused on business customers and telecommunications. It has been connecting residential customers to full fibre broadband for the past two years through its relationships with CityFibre and Openreach.