Unveiling the Multi-Million Euro Deal Shaking Up Ireland's Speed Fibre Group

Cordiant Digital Infrastructure Limited Acquires Ireland’s Speed Fibre Group in €190.5m Deal

The UK investment company, Cordiant Digital Infrastructure Limited (Cord), is set to diversify its portfolio with the acquisition of Ireland’s Speed Fibre Group for a total enterprise value of €190.5m. The deal, which includes an equity portion of €97m, is expected to close later this year after receiving regulatory approval in Ireland and the UK.

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Diversifying Portfolio with Speed Fibre

Cord plans to expand its digital infrastructure holdings with the inclusion of Speed Fibre, known for its telecoms infrastructure services. Speed Fibre currently operates 5,400km of fibre and wireless backhaul across Ireland, providing dark fibre, wavelength, and ethernet services to carriers, internet service providers, corporate customers, and the Irish Government.

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Furthermore, through its subsidiary Magnet Plus, Speed Fibre serves approximately 10,000 business and retail customers in Ireland. The acquisition of Magnet Plus was completed by Speed Fibre in 2020. In addition to Speed Fibre, Cord will also acquire Enet, which handles various metro fibre networks in Ireland.

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A Promising Market for Data Consumption Growth

Cord sees significant potential in Speed Fibre's market, as data consumption growth is expected to be one of the highest in Europe. Shonaid Jemmett-Page, Chair of Cord, describes the deal as a milestone that will provide additional portfolio cash flow and generate attractive returns for shareholders. The company primarily invests in core infrastructure assets of the digital economy, such as data centres, fibre-optic networks, and telecommunications.

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Jemmett-Page added, This provides additional portfolio cash flow supported by high visibility revenues from wholesale contracts with global blue-chip customers and offers the potential to generate long-term value and attractive returns to shareholders.