The i3 Group has sold its shares in the under-fire Fibrecity scheme, which is designed to bring 100Mb fibre broadband to two UK cities.
Fibre-broadband rollouts have commenced in Bournemouth and Dundee, however the respective projects ground to a halt in October due to financial uncertainty and other logistical problems.
City Fibre Holdings, a consortium led by i3's former President and Chief Operating Officer has taken over the super-fast broadband initiatives.
Elfed Thomas, Chief Executive of the i3 Group, said the company had been started in 2002 to focus on developing low-cost methods to build dark fibre optic networks to bring super-fast connectivity to homes and businesses.
He noted that the sale to City Fibre Holdings brings the i3 Group's business in line with its international approach.
"I decided to concentrate on a licensed technology model withdrawing from the actual build of fibre optic networks, while allowing our licensed partners and other infrastructure specialists, to benefit from our fast-to-build and low-cost methodologies of fibre deployment," Mr Thomas stated.
Last week, Bournemouth Borough Council summoned the i3 Group's directors to a summit, in a bid to clarify the exact position of the Fibrecity project and when it could expect delivery work to recommence.