Viatel sells non-Irish infrastructure, services to Zayo for $100m
Viatel, a wholly owned subsidiary of Digiweb Group, is to sell its non-Irish infrastructure and enterprise businesses to US-based Zayo Group for an estimated $102 million.
The transaction – expected to clear by the end of 2016 – will not affect existing Viatel operations throughout Ireland nor its European Voice and MPLS services, through which the company continues to deliver leading enterprise ICT solutions to thousands of customer locations.
The deal will see the Viatel’s fibre network spanning eight European countries join Zayo’s US and European network.
“This is an exciting time for the Company and the current transaction provides an excellent fit for the European infrastructure business to be part of a wider, fast growing, listed entity that will develop the business further,” said Viatel CEO Colm Piercy (pictured).
“We are excited by a wave of opportunities within the business currently and with the support of our customers, staff, management and investors we will continue our strong growth into the future, expanding our capabilities through strategic acquisitions and delivering innovative propositions to the market, differentiated by our focus on excellent customer service.”