Tramore's Piercy lectured in technology in University of Limerick before moving to set up a broadband and telecoms empire. His Digiweb company was valued internally at up to €500m in 2014, with plans to grow the firm to a €1bn valuation by the end of this year. However, it sold off its Viatel business for close to €100m late last year.
Piercy (44) owns more than 60pc of the firm, with Morgan Stanley among the other investors. The valuation is far higher than previously thought. He also owns a number of data centres in a private capacity. Last year he teamed up with Sunday Independent columnist Sean Gallagher to set up Clyde Real Estate, a commercial property investment firm.