International investment bank Morgan Stanley has invested almost €12 million into local telecoms firm Digiweb.
Company filings lodged last week show that Morgan Stanley led a €11.7 million round at Digiweb through a share placing.
The finance is expected to be used to fund Digiweb’s planned European expansion.
Morgan Stanley became a minority shareholder in Digiweb last May, following Digiweb’s takeover of Viatel, a European telecoms firm with fibre optic infrastructure in eight countries.
Despite the recent investment, Digiweb’s founder and chief executive Colm Piercy remains the largest single shareholder.
Digiweb’s operational centre is located in the IDA Industrial Estate on the Inner Relief Road in Dundalk.
Previously: New jobs for Digiweb thanks to Belgian acquisition (Talk of the Town)
Talk of the Town 