Monday 26 September 2016

Piercy-chaired Dataplex seeking €100m for expansion

Published 27/03/2016 | 02:30

Telecoms entrepreneur Colm Piercy
Telecoms entrepreneur Colm Piercy

Dataplex, the datacentre company chaired by telecoms entrepreneur Colm Piercy, is looking to raise €100m to help fund a second data centre facility in Dublin.

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Chief executive Eddie Kilbane said the package would possibly be 20pc equity and 80pc debt.

"Dataplex is continuing expansion in the Irish market, we're currently in the process of raising €100m for some additional data centre space, which we'll be bringing to market," Kilbane told the Sunday Independent.

"There will be a second facility that we're currently working on in terms of acquiring that space. It will be a second facility for Dataplex in Dublin," he said.

The company currently has a data centre in Blanchardstown, Dublin 15, where it rents space to clients.

"All of the funding for the company has been provided for by the existing shareholders, the company doesn't have any debt on its books.

"The strength of that is the reason why we're going to the market, to show them how we've developed the first phase and now we're looking for possibly a mix of 20pc equity and 80pc debt to do the expansion."

Data centres are facilities used to house large amounts of computer data.

Ireland is seen as a good location for such facilities because of our cool climate, which helps keep down air-conditioning costs associated with keeping servers cool.

Last June, the IDA's head of technology, content and business services, Leo Clancy, said Ireland's data centre industry would "overtake the UK and mainland European locations and grow by 18pc over the next three years".

Many of the world's major technology companies have data centres here, including Microsoft and Amazon.

Facebook recently announced plans to build a massive facility in Clonee, Co Meath, and Apple announced similar plans for an €850m centre in Athenry, Co Galway.

Sunday Indo Business

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