eir, Ireland’s incumbent telecommunications provider, and InfraVia, is a leading independent private equity firm specialising in infrastructure and technology investments, agreed to establish a joint venture to accelerate the roll-out of high-speed internet across Ireland.
InfraVia will take a 49% stake in a new subsidiary of eir, Fibre Networks Ireland Limited. The companies estimate that 200,000 homes will be passed in 2022, increasing to 250,000 homes in 2023. This acceleration in network roll-out will allow around 50,000 more families and businesses to gain access to high-speed internet per year than previously anticipated by eir.
Stephen Tighe, CFO of eir, states “The establishment of Fibre Networks Ireland provides a vehicle for further investment in our already extensive network. eir’s mission has always been to connect people through great quality services. Through this exciting partnership with InfraVia we can improve our ability to connect customers faster than ever before and ensure that more homes in Ireland can access the high-speed internet that has become an increasingly important part of how we live our lives.”
Bruno Candès, Partner at InfraVia Capital Partners, said, “We are very pleased to partner with eir and its shareholders in building out a high quality, national FTTH network that will provide next generation connectivity across Ireland. Fibre internet access is a critical service that enables an inclusive digital transformation, and we are proud to support this transition in the Republic of Ireland. This investment builds on our existing track record in Ireland and our deep communications infrastructure experience across Europe. We look forward to working with eir in this partnership in the years ahead.”
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