Digiweb secures €20m to Drive Expansion

· Digiweb to extend successful Metro network nationally
· Ireland’s first 4G mobile broadband network to be deployed
· 100 new high tech jobs planned bringing firm to 220
· Follow-on funding available for further acquisitions

Digiweb Ltd confirms that it has today concluded a €20m funding round in conjunction with the Moritz Group, one of Ireland’s leading investment development firms active throughout Ireland and Central Europe.

Until now, Digiweb’s rapid expansion and construction of its national networks has been entirely self-financed through reinvestment of revenues and a business expansion programme. The company has built a reputation for delivering innovative and quality services nationwide that other providers have found difficult to match. Digiweb’s Metro service, launched just 12 months ago, has enjoyed phenomenal take-up amongst both business and home subscribers, uniquely offering a Broadband and Telephone bundle for less than €20 per month, less than the basic line rental fee consumers are being charged by other operators before broadband is added.

The new funds will extend Digiweb’s ongoing expansion of Metro throughout Ireland, will support the company’s further expansion into Europe, and will build Ireland’s first 4G mobile network, details of which are due to be announced soon.

“On foot of this investment we can aggressively address the question of broadband availability across the country, and will accelerate our plans to extend our market leading networks and services further across both Ireland and Europe”, stated Colm Piercy, Managing Director, “in addition to ongoing organic growth through our compelling service offering, we continue to evaluate opportunities for acquisition and entry to new International markets”

“We were delighted to recognise within Digiweb the same spirit of entrepreneurship, innovation and integrity across a strong team, with a focus on delivering quality customer-focused solutions, which has been vital to our own success” commented John Barrett, Moritz Group Finance Director, “and we look forward to jointly exploiting new opportunities at home and abroad.”

“Having already deployed the largest independent network in Ireland, we have a series of exciting new services and offerings lined up for our customers and the market – we look forward to revealing these consumer driven products at a time when our competitors are seeking to increase their line rental charges and costs to the end user” observed John Quinn, Head of Development, Digiweb.

The planned expansion is due to create a further 100 new high technology engineering, computing and customer service jobs in Dublin, Dundalk, Waterford and Limerick, increasing Digiweb’s workforce to 220 over the next 18 months.