Irish data centre provider Data Electronics has been bought by UK group Telecity in a deal worth £87.7m sterling.
Data Electronics is one of Ireland's largest providers of data centre services. It was founded in 1975 and has invested heavily in its two data centres near Dublin. It recently completed a €15 million expansion of an eco-friendly data centre in north Dublin.
Telecity Group is one of the biggest players in Europe in the data centre sector, and is looking to expand as the popularity of cloud computing grows.
The chief executive of Data Electronics, Maurice Mortell, said the deal demonstrates that the Irish IT market is highly viable and shows support for Dublin's position as a core European technology and internet hub.
