Cordiant Digital Infrastructure buys Irish fibre provider

Specialist investment group Cordiant Digital Infrastructure (CORD) is buying Irish fibre infrastructure provider Speed Fibre for €190.5m.

The acquisition marks CORD's fourth purchase of a digital infrastructure platform since it launched in 2021.

Speed Fibre operates 5,400km of fibre and wireless backhaul across Ireland, on which it provides dark fibre, wavelength and ethernet services to a mix of carriers, internet service providers, corporate customers, and the government.

"The business is also well-positioned to serve Ireland's growing data centre sector, which is expected to be the fastest growing hyperscale data centre market in Western Europe over the next six years," CORD said in a statement on Thursday.

"While primarily a backbone provider, Speed Fibre's subsidiary, Magnet Plus, provides connection and service to approximately 10,000 business and retail customers in Ireland."

CORD's shares were up 0.2% at 71.3p in early deals on Thursday.