€22m investment for telecoms firm Intune

Financier Dermot Desmond and venture firm Kernel Capital are among investors to have pumped €22m into Dublin-based telecoms equipment supplier Intune Networks, it was announced today.

The investment was secured by the company in its most recent funding round and is the largest private equity investment in the global telecoms optical equipment sector in 2009. It is also the largest private equity investment round in the European telecoms equipment sector and the third largest in the European IT sector this year.