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Another City of London firm has made the move East into the city's tech cluster

As the cross-pollination between professional service firms and East London’s tech clusters continue apace, another City business has made the jump to the capital’s tech hotbed.

Colt Technology Services, formerly City of London Telecommunications, has moved to new headquarters at 20 Great Eastern Street, close to Silicon Roundabout and the thriving tech ecosystem around Old Street.

The telecoms firm provides wholesale fibre-optic connections to businesses in London, utilising its telecoms network that is has been building since 1992, and could stand to benefit from the Government’s £1bn commitment to fibre-optic infrastructure in the UK.

Carl Grivner, Colt’s Chief Executive Officer, said: “Colt has made a quarter of a century of investment in the City of London and for evidence of this you don’t have to look any further than in the streets where we have built our fibre.

“Colt recognises that the technological development incumbent on network operators is not just about reliability or meeting today’s needs. Our task is to prepare the world for enormously greater need for bandwidth through enabling the digital transformation of business.

“The future is about enabling gigabit speeds and high quality connectivity, across the city, the country and the world.”

The move comes after HSBC announced it was to open an office in Shoreditch back in September, while London startup Deliveroo signed on for its new headquarters in the City, attesting to the increasingly amorphous borders between East London and the square mile.

Colt’s relocation is also set to unlock significant growth at the telecoms firm, with 300 new salespeople set to join its current 700-strong workforce.