Noel Meaney sells ownership stake in Citadel100 data centre group

11 Mar 2013

Irish data centre and telecoms entrepreneur Noel Meaney has sold his ownership stake in Dublin-headquartered Citadel 100 Datacenters Ltd. The 50pc stake was acquired by Securus Data Property Fund, the world’s first Shariah-compliant data centre fund.

Meaney will step down as chairman and CEO of Citadel 100 (C100) but will continue in a transitional advisory role with the company.

Karl Hennessy, the current chief operations officer, will take over as CEO of the company.

Securus is jointly managed by Keppel Data Centre Investment Management, which owns a portfolio of seven high quality data centre facilities in Europe and Asia Pacific.

The stake in C100 is the first acquisition that the Securus Fund has made since it announced a second-round capital raising of US$170m earlier this year.

C100 was founded by Meaney in 2002 and operates a 65,000 sq-foot Tier III data centre in Citywest, Dublin.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years