TelecityGroup buys Data Electronics for over $140 million

TelecityGroup buys Data Electronics for over $140 million

European data centre provider TelecityGroup has announced its acquisition of the Irish data centre company Data Electronics Group for approximately $143 million in cash.

TelecityGroup is based in London and operates 26 data centres across Europe’s major cities including Amsterdam, Frankfurt, Manchester, Milan, Paris, Stockholm and Dublin. This acquisition also gives TelecityGroup a presence in the Irish capital through the addition of Data Electronics’ two carrier-neutral data centres.

“Data Electronics is a successful Irish technology business with strong growth potential and there is significant local, national and international demand for high quality, connected data centre services in Ireland,” said Michael Tobin, CEO of TelecityGroup.

The newly acquired data centres have a combined capacity of 4,600sqm and 4MW of customer available power, which can access 40 carrier networks and the Dublin internet exchange INEX. Data Electronics also has 1.5MW of secured customer power with potential for further significant expansion within its existing sites.

“This deal demonstrates that the Irish IT market is highly viable and shows support for Dublin’s position as a core European technology and internet hub, presenting a significant opportunity for the combined group,” said Maurice Mortell, CEO of Data Electronics.

Mortell added that he was going to stay with the business to lead the combined Irish operations of the two companies.

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