Communications group Imagine has bought Irish Broadband from NTR and Kilsaran Concrete in a deal worth €47m.
Imagine says the deal will create an enlarged company with annual revenue of more than €100m. After the deal, NTR and Kilsaran will have a combined 25% stake in the new firm.
Imagine will not be taking on any debt, and the current owners will invest a further €7m in the merged company.
Imagine, headed by founder and telecoms entrepreneur Sean Bolger, has offices in Ireland, the Netherlands and the US. In Ireland, it provides fixed, broadband and other telecoms services to business and residential customers through the Imagine, Gaelic Telecom, Access and Cinergi brands.
Mr Bolger said the network and spectrum assets involved in the Irish Broadband buy would help it to deploy WiMAX technology, which will allow the next generation of high-speed communications services to be delivered.
