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16 May 2013
Dublin-based Digiweb Group has acquired Viatel and VTL Wavenet in a deal struck at ITW 2013.
Digiweb claims the acquisition
will create a pan-European telecoms provider, with extended
operations across the UK, Ireland, France, Germany, the
Netherlands, Belgium, Switzerland and Italy.
The company offers multi-site MPLS data networks, IP and
traditional voice services, in addition to cloud computing and
data centre services to enterprise and wholesale
It struck the deal to acquire London-based Viatel yesterday,
and it will add the company's extensive fibre connectivity,
high-speed bandwidth and managed services to blue chip carrier,
corporate and government clients across Europe.
Viatel invested $1.5 billion in constructing its low latency
carrier fibre network, connecting 21 cities across 8600km of
network throughout western Europe.
"We see a strong opportunity for cross border consolidation in
the telecoms sector in Europe in parallel with the explosion in
high bandwidth connectivity demand, and this transaction is the
first step in positioning our group to take advantages of those
trends," said Colm Piercy, group CEO at Digiweb.
"Digiweb has always had a philosophy of challenging the status
quo and we plan on stepping that up following this marriage of
Digiweb's entrepreneurial culture with Viatel's service and
Investors in Viatel, which include Morgan Stanley, are now
putting additional equity into the Digiweb group. As part of
the acquisition, the company will now fund the introduction of
new services. It said it will continue to seek further
opportunities for consolidation in the market to deliver
differentiated, exceptional service offerings leveraging
wholly-owned independent infrastructure.
Outgoing CEO at Viatel will now join the board of directors at
Digiweb. "This is an exciting time for Viatel and its clients
and this combination of products, skills and expertise gives
the business great opportunities to expand and to create
shareholder value," she added.
UK-based telecoms company Viatel has today revealed that it will spend €125 million on a major expansion over the next 12 months.
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