DUNDALK based Digiweb, Ireland’s largest independent telecommunications company has announced the successful completion of a €14.5 million round of investment into the company.
Group CEO Colm Piercy said this investment builds on a successful year to date as they continue to grow their market share as a one-stop business services provider.
On foot of the investment, Digiweb debt reduces to €5.7 million, against a projected revenue of €40 million.
“We look forward to working with Brian Kelly and his Quay Ventures team,” Mr Piercy said, “following their investment in Digiweb. Brian is an experienced technology investor and in welcoming him as Chairman of our Board of Directors I know he will add significantly to our leadership team.”
Brian Kelly of Quay Ventures said Digiweb are an exciting organisation to work with and to invest in.
“While we are investing in a group with a great track record and strong balance sheet,” he said, “more importantly we are investing in a company that has a great vision and ambition. This is directly in line with our strategy in these difficult times to invest in successful operators in Irish business sectors whom are likely to emerge bigger, better and stronger”.
As part of the overall investment round, new business lending has been provided by Ulster Bank. Mr Piercy said this is a strong vote of confidence in the team at Digiweb who have produced excellent year round customer service, growth and results.
“Ulster Bank is a brand new banking relationship for Digiweb.
“We welcome their vision in current times in providing substantial new facilities to a new customer as we position ourselves for future opportunities,” Mr Piercy said.