Global Voice raised to tune of €32m

4 Oct 2007

An Irishman’s company responsible for one of the highest-capacity fibre networks in Europe has completed the issue of a convertible bond that will raise up to €32m to accelerate investment in long-haul and last mile infrastructure.

Noel Meaney’s Global Voice which trades as euNetworks in Europe and owns high-capacity fibre networks and data centres across the continent amassed revenues of €10.4m for the first half of 2007, resulting in profits of €1.4m.

The Singapore Stock Exchange-listed company which Meaney (pictured) started after leading a management buyout of data centre firm Metromedia in 2002, attracted 34 new customers and 113 separate new lease agreements in the six months.

Global Voice issued the convertible bond in order to accelerate investment rollout in response to increased customer demand.

It will use the money to roll out Metropolitan Area Networks (MANs) in London, Berlin and Munich, commission a long-haul network that will traverse Germany and build an additional data centre in Amsterdam.

Meaney said he was pleased with the response and uptake of the bond which he says validates his company’s performance to date and its strategic vision going forward.

“This investment enables accelerated investment in key markets such as London, Amsterdam and Germany where we have already seen strong advanced demand for our expanded service and infrastructure offerings,” Meaney commented.

By John Kennedy