Complete Network Technology (United Kingdom) - Oct 2007

unquote
01 October 2007

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Oyster Capital has invested €4m in Complete Network Technology, a provider of ‘ultra-fast’ broadband for businesses, and taken a minority stake in the company. The funding will be used to accelerate the roll out of the company’s fibre-optic network, which already includes more than 100km of datalines in Dublin alone. In addition to this organic growth, the company will be looking to expand through possible acquisition opportunities.

Company

Complete supplies businesses with telecom services that are up to 10-1000 times faster than standard broadband over its fibre-optic metropolitan area networks (MANs) both in Dublin and other regional government MANs, as well as providing fibre optics to the majority of datacentres in Dublin for data storage and off-site data backup. The business was founded in 2001 and has since grown significantly, generating turnover and EBITDA in 2006 of €5.5m and €550,000 respectively, with revenues expected to reach €10m this year. The company is based in Dublin and currently employs 26 staff.

People

Martin Scully led the transaction for Oyster and will join the Complete board.

Sourced from: unquote unquote" 356 (Nov 2007)