Irish data centre company Data Electronics has been bought by Telecity Group for £87.6m (€100m) in cash.
Data Electronics is one of Ireland’s largest providers of data centre services. It recently made an investment in increasing capacity at its two data centres near Dublin and finished a €15m expansion of an eco-friendly data centre in north Dublin.
Michael Tobin, CEO of Telecity Group, said Data Electronics has strong growth potential and noted there is significant local, national and international demand for high quality, connected data centre services in Ireland.
“The combination of Data Electronics and Telecity Group creates a platform both to capture this demand and also to fulfil growth requirements of our existing customers in Dublin,” he said.
Maurice Mortell, CEO of Data Electronics, described the acquisition as an exciting development for his company. “With greater combined resources, talent, technology and infrastructure we’ll be able to deliver even more opportunity and value to our customers,” he said.
“Combining our business with Europe’s leading provider of data centres will be a great boost and will help us continue to build on our successful strategy of attracting both Irish and international businesses choosing to locate their digital infrastructure with us here.
“This deal demonstrates that the Irish IT market is highly viable and shows support for Dublin’s position as a core European technology and internet hub, presenting a significant opportunity for the combined group.”
Mortell said he will remain with the company to lead the combined Irish operations.
Photo: Maurice Mortell
Article courtesy of Businessandleadership.com