Ireland's e|net Acquired by Consortium
PRINCETON, N.J. -- e|net, the private company responsible for operating the State owned Metropolitan Area Networks (MANs) fibre optic infrastructure, has been acquired by a consortium of international telco and infrastructure investors, for an undisclosed sum. The consortium comprises Granahan McCourt, Oak Hill Advisors, and the family of Walter Scott Jr. The business has been acquired from previous shareholders, including ACT Venture Capital and e|net founder, Michael Tiernan.
e|net manages and operates the MANs in 94 cities and towns around Ireland. The acquisition will have no impact on e|net’s day to day business operations, e|net’s current management will remain in place and the company’s customers, which include BT, UPC and Vodafone, will not be affected. The MANs continue to remain in State ownership and are operated by e|net under a concession agreement with the Department of Communications, Energy and Natural Resources.