Dublin data storage business sold for €100m
AN Irish data storage group has been sold to a UK rival for €100m. Data Electronics, which is based in Dublin and employs 55 people, has been bought by the Telecity Group for £87.6m.
The company, which had sales of €15.6m in 2010, was founded in 1975 and is one of Ireland's largest providers of data centre services. It has recently completed a €15m expansion of an eco-friendly data centre in north Dublin.
The company's chief executive, Maurice Mortell, welcomed the deal.
“This is an exciting development for Data Electronics. With greater combined resources, talent, technology and infrastructure we'll be able to deliver even more opportunity and value to our customers. Combining our business with Europe’s leading provider of data centres will be a great boost and will help us continue to build on our successful strategy of attracting both Irish and international businesses choosing to locate their digital infrastructure with us here," said Mr Mortell.