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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>

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    Mute Larry K
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    Oct 1st 2014, 2:01 PM

    50,000 raised and sone good done. loads of good people involved. A really positive memorial

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    Mute Ann Mahon
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    Oct 1st 2014, 7:58 PM

    Palliative care, makes a huge difference to families . My beloved son Tom received it before he passed away from Dr Emmet Walls and team in St Luke’s and Waterford Hospital. Well done to all the fundraisers . Shame on the successive Governments for failing to provide a Hospice for the South East ! People deserve to die with dignity .

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    Mute Joan Featherstone
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    Oct 1st 2014, 8:20 PM

    Ann I’m sorry to hear you lost your beloved son, something no mum should have to bear, sending you my ❤️.

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    Mute Ann Mahon
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    Oct 1st 2014, 10:35 PM

    Thank you Joan xx

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    Mute stephen
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    Oct 1st 2014, 4:04 PM

    Joe Duffy, did some brilliant work on behalf of the Susie Long foundation and think he deserves a mention.

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    Mute Denis Reidy
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    Oct 1st 2014, 4:35 PM

    People like this do more for healthcare in Ireland than any Gov. body of cronies.

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    Mute Cliff Walker
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    Oct 1st 2014, 4:23 PM

    Mayo Roscommon Hospice are also opening a hospice in Castlebar which is great news they have been fundraising for years

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    Mute Fox Trot
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    Oct 1st 2014, 4:22 PM

    He also filled a lot of air time because of her.

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    Mute Denis Reidy
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    Oct 1st 2014, 4:33 PM

    go away

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    Mute Joe
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    Oct 1st 2014, 2:03 PM

    Great stuff

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