UK telecommunications company plunges into administration | UK | News

A UK-based telecom company that has partnered with Virgin Media O2 (VMO2) went into administration. IONX Networks collapse marlowIt comes weeks after the Buckinghamshire business completed a trial project with VMO2, which focuses on small cell technology infrastructure.

Joint administrators of Teneo Financial Advisory Ltd were appointed in December. A report published by administrators at the end of January said IONX Networks had “only one active customer” and was “generating limited revenue” when it collapsed into administration.

The report said the company employs 67 staff in the UK and has been hit as priorities in the telecommunications sector are “rapidly changing” as operators shift focus or delay the rollout of 4G.

IONX’s future has reportedly become “more challenging,” according to the report cited by industry publications. IS Preview.

Shareholders decided it was not financially viable to provide further funding to the business, although a possible buyer was reportedly found for the intellectual property rights and some assets.

VMO2 said their work with IONX was a successful, small-scale trial and that the company going into administration would not cause many problems.

Virgin Media O2 is working to integrate small cell technology into its next-generation 5G standalone (5GSA) network.

Small cells are low-power, pizza box-sized 5G radio base stations that provide coverage from 10 meters to several kilometers.

A VMO2 spokesperson told IS Preview: “With over 2,000 live streams on our network, our small cell deployment continues to be industry leading.

“We are working with a number of neutral mainframe infrastructure providers to deploy these small cells across the country.”

VMO2 also has the largest 5GSA network among all operators and is the first to deploy 5GSA small cells in 2024, the spokesperson said.

Teneo Financial Advisory Ltd has been approached for comment.