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Acted for Data Electronics Group Ltd on acquisition by Telecity Group Plc

AUTHOR(S): Alan Chiswick
PRACTICE AREA GROUP: Corporate
DATE: 10.08.2011

Matheson acted for Data Electronics Group Limited and its shareholders in respect of the acquisition of the company by Telecity Group Plc.

The acquisition, which took place for a cash consideration of STG £87.6 million, will see Data Electronics form part of Telecity’s Irish operations upon completion.

Data Electronics is a leading Irish provider of carrier-neutral data centres, with two locations in Dublin.

Telecity, meanwhile, is one of Europe’s largest providers of data centres, and is listed on the London Stock Exchange (LSE: TCY).

The deal reflects the significant demand for connected data centre systems in Ireland, and marks a further demonstration of Dublin’s status as a key European technology hub.

As part of the transaction, the combined Irish operations will continue to be led by the existing Data Electronics management.

 

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