The investment vehicle of tech millionaire Bill McCabe has invested €4m in a fast-growing data communications company.
McCabe founded Ireland’s first e-learning firm CBT which later became SmartForce and was bought by US firm SkillSoft.
His investment vehicle Oyster Capital has invested in Complete Telecom and Martin Scully of Oyster will join the board of Complete.
Complete Telecom, led by telecoms industry veteran Kevin Murphy, was founded in 2001, employs 26 people and expects to reach a turnover of €10m this year.
Complete has already made a substantial investment in a 100km fibre optic network around Dublin that connects most business campuses and data centres around the city.
The company will use the investment to recruit new staff in the fields of sales, engineering and marketing.
Complete Networks plans to double turnover in the next three years and deploy more fibre networks around Ireland.
The company has offices in Dublin, Limerick, Cork and Belfast.
By John Kennedy