Dublin headquartered Telecommunications Company Viatel is set to invest €125m in a major expansion.
The company, which employs 220 people in Ireland, said that over the next year it will invest in extending its fibre infrastructure, cloud services and data centres.
Proventus Capital Partners is injecting €125 million into the company, which it will largely use to go on an acquisition spree, with smaller Irish and European companies firmly in its sights.
Viatel’s CEO Colm Piercy said that this is an exciting time for the company.
“This investment will now enable us to enhance our services and to extend our reach further and deeper within Europe, and to connect new locations in the U.S.A., Canada, the Middle East and Asia,” said Colm Piercy, CEO of Viatel, in a statement.
In addition to expanding its network, Viatel said the investment will also create new jobs.
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