Telecity to Buyout Irish Data Firm

01 August 2011 - Which Way to Pay

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Telecity to Buyout Irish Data Firm

Data Electronics, an Irish data centre provider, is thought to be in the provisional stages of talks with UK data company Telecity Group as the firms are reportedly discussing a £100 million deal. Telecity is one of the data centre companies currently benefitting from an increasing number of companies opting for ‘cloud’ computing as a way of storing data. As one of the largest companies of their kind, Telecity revenues went up 16% in 2010.

Clients of Telecity include Facebook, Transport for London and Walkers crisps, and is building 3 brand new data centres across London, all the while being on the lookout for European sites. The company also has a reserve of around £300 million allocated to expansion alone. In the recent financial difficulties, many companies have opted to employ data storage companies instead of managing their own data centres. Data Electronics has put a lot of money over the recent years into data centres in Dublin and employs 55 people.

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