Digiweb secures €20m to drive expansion

Irish internet service providers Digiweb have today concluded a €20m funding deal with the investment development firm Moritz Group.

Until now, Digiweb’s expansion and construction of its national networks has been mainly self-financed through reinvestment of revenues and a business expansion programme.

Digiweb’s Metro service, launched 12 months ago, offers broadband and telephone bundles for less than €20 per month.

The new funds will extend Digiweb’s ongoing expansion of Metro throughout Ireland and support the company’s further expansion into Europe,

The Moritz Group finance director John Barrett said: “We look forward to jointly exploiting new opportunities at home and abroad.”

The planned expansion is due to create a further 100 new high technology engineering, computing and customer service jobs in Dublin, Dundalk, Waterford and Limerick, increasing Digiweb’s workforce to 220 over the next 18 months.