Data Electronics acquires Wolfe Group Assets

Data Electronics is to acquire the complete assets of the Wolfe Group.

Data Electronic is an indigenous carrier-neutral provider of co-location, managed hosting and managed services. The deal will expand Data Electronics' managed services offering and means that the company strengthens its position in providing a complete suite of managed services in Ireland.

Through the deal Data Electronics has saved 75% of the original purchase value of all the assets of the Wolfe Group. It has acquired the infrastructure, network operations centre, servers and storage capabilities. The managed services offerings includes monitoring of networks, operations, and e-business applications.

On 6th December, 2001 the High Court approved the appointment of accountant Aidan O'Connell of Deloitte & Touche as provisional liquidator of the Wolfe Group. It had been known that the company was in difficulties.

The company had attempted to sell out to Nevada tele.com but had not been successful. The Wolfe Group was a managed solutions provider which had a data hosting centre in Dublin's Park West business park.

Founded in 1998 by former employees of IONA, at one time it employed around 80 people but this it had been cut back to 30. In September, 2000 it received €6.3m funding from the 3iGroup.