Digiweb completes successful investment round

Digiweb completes successful investment round €14.5 million new investment completed in Digiweb Digiweb pursuing expansion through organic growth, channel partnership and acquisition Currently completing 2012 recruitment programme of 25 new positions 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 & Founder Colm Piercy said “this investment builds on a successful year to date as we continue to grow our market share as a one-stop business services provider, launch and rapidly grow our wholesale services division, and are now positioned for expansion in Ireland and Europe, while further reducing overall debt. The €14.5 million package combines new equity investment and new bank lending and is a strong endorsement of our leading position and profitability in our markets.” On foot of the investment, Digiweb debt reduces to €5.7 million, against projected Revenues and EBITDA of circa €40 million and €8 million respectively, positioning Digiweb as a flexible business services provider ready to avail of opportunities as they arise in Ireland and abroad. Colm Piercy said “we look forward to working with Brian Kelly and his Quay Ventures team 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.” Speaking about the investment, 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, more importantly we are investing in a company...