Lecturer-turned-tech entrepreneur Piercy said his company Digiweb was valued internally at up to 500m in 2014, with plans to grow the firm to a 1bn valuation by the end of 2016. However, it sold off its Viatel business for close to 100m in 2015.
Piercy owns more than 60pc of the firm, with Morgan Stanley among the other investors. It was reported last year that Digiweb had hired IBI Corporate Finance to review its strategic options, including a possible sale of the telecoms company. Piercy also owns a number of data centres in a private capacity. The Tramore man has teamed up with Sunday Independent columnist Sean Gallagher to set up Clyde Real Estate, a commercial property investment firm.