Piercy's Digiweb sells assets of subsidiary for €95 million

Piercy's Digiweb sells assets of subsidiary for €95 million
Colm Piercy of Digiweb Pic: Rollingnews.ie

The transaction is expected to close by the end of the calendar year

Telecommunications entrepreneur Colm Piercy’s Digiweb has sold the non-Irish assets of Viatel, one of its subsidiaries, to American US cable and data firm Zayo Group for $102 million (€95 million).

Zayo, which has a market cap of more than $5 billion, will acquire the assets of Viatel in which include cable networks and data centres across eight European countries.

Digiweb is an Irish telecommunications company founded by entrepreneur Colm Piercy and it acquired Viatel in 2013.

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