Mergers and Acquistions News
Categories: Telecoms
January 16th 2009, 16:06PM
Fircomms, an Irish provider of high-speed plastic optical fibre components, has secured funding worth $5 million (£3.3 million) with telecoms firm Swisscom leading the backing, it has been revealed.
According to Fircomms, the move validates the home working technology which it offers and will allow it to begin offering services from around the world.
Declan O'Mahoney, chief executive officer of the firm, said: "Already an adopter of Firecomms' IPTV interconnect technology, Swisscom has first hand experience with the advantages of Plastic Optical Fibre in the home."
Par Lange, investment partner with Swisscom, added that the move will increase collaboration between the two firms.
Other companies backing the venture include Atlantic Bridge, Bullhound, Enterprise Ireland and ACT Venture Fund.
Earlier this week, Luiz Eduardo Falco, president of Oi Particiacoes, told Brazzil magazine that the company is eying deals overseas after completing the takeover of Brasil Telecom for 5.86 billion reais (£1.7 billion).
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