Airspeed acquisition

Granahan McCourt Capital acquires AirSpeed Telecom

Trade
Pictured: David C. McCourt, CEO of Granahan McCourt and Liam O’Kelly, CEO, AirSpeed Telecom

5 November 2014

Telecommunications and media investment firm Granahan McCourt Capital has acquired a majority shareholding in AirSpeed Telecom.

Airspeed provides telecommunications services to Irish enterprises, Government and carriers and it the largest licensed wireless network in Ireland outside the mobile operators.

It was founded in 2003 by CEO, Liam O’Kelly, who will continue as CEO following the acquisition.

This is the second significant acquisition by Granahan McCourt in the Irish telecommunications sector in the last year. It led a group of investors which bought enet, the company responsible for operating the State-owned Metropolitan Area Networks fibre optic infrastructure.

“We see significant untapped potential in Ireland and are very pleased to be investing in a well positioned, well managed, high growth Irish company with a clear focus on delivering high quality telecommunications services to organisations in every city, town and county,” said investor David C. McCourt. “AirSpeed is a different, if complementary, business to enet, which we acquired last year. The AirSpeed deal broadens our footprint in Ireland at a point of inflection for the economy and for the country. We are looking forward to increasing our presence in Ireland in the months and years ahead.”

AirSpeed CEO Liam O’Kelly added: “Granahan McCourt have unrivalled credentials in the global telecommunications industry and we are delighted with their investment in our business. Granahan McCourt’s expertise and global focus will allow us to further strengthen our significant offering in the Irish marketplace, while also allowing us to pursue expansion opportunities in international markets. It’s an extremely exciting time for AirSpeed Telecom and I’m very much looking forward to spearheading this activity in my continuing role as CEO of the company.”

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