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O2’s (Virgin Media) joint deployment with IONX Networks (formerly Dense Air), which last year claimed to have become one of the first mobile operators in the UK to successfully integrate a neutral host Small Cell into their live 5G Standalone (SA) core network (here), has been cast into doubt after IONX fell into administration at the end of last year.
Small Cells are typically mini shoebox sized mobile (radio) base stations, which are designed to deliver limited coverage (usually up to around 100 metres) and thus tend to be more focused on busy urban areas and specific sites – it’s not uncommon to find these sitting on top of lampposts, CCTV poles or even inside buildings to boost mobile coverage.
However, VMO2’s new project may have been dealt a blow after IONX Networks (Company Number 10402747), which focused on providing small cell infrastructure and technology solutions, announced on 3rd December 2025 – only a few weeks after unveiling the VMO2 agreement – that they had appointed Joint Administrators from Teneo Financial Advisory Limited (credits to one of our readers – Nucflash – for the tip off). The company’s website has since also gone offline.
According to the Administrators report, which was published at the end of January 2026, the company “generated limited revenue, with only one active customer as at the date of the administration“. IONX therefore “began winding down its operations in an orderly manner” following the appointment of the Joint Administrators to “maximise value preservation“.
The report notes that, at the time of administration, IONX employed 67 staff in the UK and had “one loss-making commercial contract and a related supply contract to provide access to a UK MNO“. But it added that the company had been impacted by “rapidly shifting strategic priorities within the telecoms industry, as operators shifted their focus or delayed 4G deployment“.
In short, IONX’s future was said to have become “more challenging” and their existing shareholders then “determined that it was no longer financially viable to provide further funding to the IONX Group“. However, there may still be some hope, as the report suggests that a buyer for the company’s intellectual property and “certain physical assets” has been found.
The Administrators are now working to complete that sale in the “coming weeks“. The Administrators are also in discussions with an interested party for a smaller (and separate) parcel of the Company’s physical assets, which similarly aims for completion within the “coming weeks“.
ISPreview has contacted VMO2 to query how they’re responding to the situation, although it should be noted that this has no impact on the other small cell companies that O2 are working with across the UK.