BoS buys 10% Blue Ocean stake

BANK of Scotland (Ireland) has acquired a 10% stake in Irish communications company Blue Ocean Wireless for €3.6 million ($4.8m).

The investment, announced yesterday valued Blue Ocean Wireless (BOW) at $48 million.

BOW provides mobile communications to the merchant maritime sector and is a joint venture between Claret Capital, a private equity group, and Altobridge, a Tralee-based technology group.