An overview of the week in deals in the Irish technology sector.
Ripplecom acquires Last Mile Broadband assets
Wireless ISP Ripplecom has acquired the broadband network previously operated by Last Mile Broadband for an undisclosed sum. Ripplecom is planning a substantial expansion of its customer base driven by 8Mbps services.
The acquisition includes 2,200 customers in the Midlands and the entire wireless network infrastructure of the Athlone-based wireless service provider.
“The acquisition of Last Mile Broadband’s infrastructure and customer base has further increased our market presence and positions Ripplecom as the primary provider of wireless broadband services to both business and residential customers in Ireland,” John McDonnell, Ripplecom’s managing director, explained.
“Our aim is to expand our customer base over the coming months by delivering up to 8Mb broadband and Voice Services nationally,” he continued.
PCH International buys TNS Distribution for €21m
Cork supply chain firm PCH International has acquired Ireland-based, pan-European consumer electronics distributor TNS Distribution for €21m (US$14.7m).
The consideration includes an immediate payment of €6m (US$8.67m) with an earnings-based payment of €5m (US$7.22m) over three years, based on the performance of TNS Distribution.
An additional payment will be made over the same period based on the overall performance of the PCH Group, and will range from between €5m and €10m (US$7m-US$14m). Ernst & Young managed the transaction on behalf of PCH.
TNS Distribution has offices in the UK, Germany, France, Sweden, Spain and China.
“TNS Distribution is a strategic and natural match for PCH and we are very pleased to announce this acquisition,” said Liam Casey, CEO of PCH International.
“PCH offers world-class product development and supply chain solutions from China to the world. TNS Distribution completes this service offering with a strong distribution network in Europe. Together we will be able to improve the service offering to our clients – including the world’s leading technology brands – who are eager to sell their products into Europe,” Casey said.