Readers like you keep news free for everyone.

More than 5,000 readers have already pitched in to keep free access to The Journal.

For the price of one cup of coffee each week you can help keep paywalls away.

Support us today
Not now
Saturday 30 September 2023 Dublin: 10°C
# connected
This Irish telecoms company has landed a €125 million investment
Viatel is set to go on a spending spree after landing the cash.

IRISH TELECOMMUNICATIONS PLAYER Viatel has secured a major investment which will fund its expansion into global markets in the coming years.

Proventus Capital Partners is injecting €125 million into the company, which it will largely use to go on a acquisition spree, with smaller Irish and European companies firmly in its sights.

Up to €100 million of the total will be set aside to fund acquisitions.

The Dublin-based company is already one of the largest owners of transcontinental duct and fibre across Europe, and also operates an extensive portfolio of data centres, chief executive Colm Piercy said.

“We’re essentially a telecommunications company. We provide a full range of services, hosting, cloud computing, business centres and data connectivity services.”

The largest software companies, internet search firms and so on use us when they’re looking to transfer volumes of data from London to Dublin and so forth.

He continued: “This investment will now enable us to enhance our services and to extend our reach further and deeper within Europe, and to connect new locations in the US, Canada, the Middle East and Asia.”

New hires are on the cards in the wake of the investment, Piercy said, with expansion across a range of sales, technical and product development and delivery teams in London, Dublin, Paris, Amsterdam and Frankfurt.

The company already employs 220 people, 170 of those in Ireland between its Dublin headquarters and its office in Dundalk. Revenues are projected to hit the €100 million mark by the end of this year.

Viatel has already acquired Smart Telecom and Talk Talk Ireland on its home patch, although Piercy promised that there are more deals for smaller Irish outfits in the pipeline.

Proventus investment director Henrik Bjerklin said that the company “is committed to working with dynamic and growth oriented businesses throughout Europe”.

Read: Internet company crash leaves customers without web services for days>

Read: Cavan’s Kingspan snaps up US outfit for €60 million>

Your Voice
Readers Comments
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.