MLNet completes management buy-out
B2B Internet service provider ready to go it alone
TechTrade | 19 Jun 2012 :
The management team at MLNet Limited has successfully completed a management buy out of the business from Metronet (UK) Limited. The buyout has been led by John Earley, chairman and CEO of MLNet, who has also led the investment which coincides with Metronet's MBO in the UK, which valued the company at €18 million.
MLNet specialises in Internet and Cloud services and exclusively targets corporate private and public sector customers and services more than 50 corporate customers in Dublin and Cork.
John Earley said: "MLNet is being set free to exploit opportunities throughout the island of Ireland and I am predicting exponential growth for the business now that it has carved out an important niche market for itself."
MLNet is to begin a local expansion strategy beginning with an immediate recruitment campaign to strengthen its local technical operations and support team.