Feeds

Global Voice hits right note with €32m bond

Metro networks for London, Berlin, and Munich

Remote control for virtualized desktops

Irish-owned data network firm Global Voice, which trades as euNetworks, has raised up to €32m in funding through the issuing of a convertible bond.

Global Voice said it intends to use the proceeds of the bond to accelerate the roll-out of metro networks and associated services in London, Berlin, and Munich.

The funds will also be used to enable it complete the commissioning of a next generation long-haul network through Germany and to build an additional datacentre in Amsterdam.

Global Voice owns and operates a €1.3bn high-capacity network which connects Germany, the Netherlands, the UK, France, and Belgium, and combines meshed "last-mile" metropolitan fibre networks in Frankfurt, Munich, Berlin, Stuttgart, Hanover, Hamburg, Dusseldorf, Cologne, Paris, Amsterdam, Rotterdam, The Hague, Utrecht, London and Dublin.

The total issued amount of the bond is up to €32m before expenses, with a five-year maturity and three per cent annual interest rate.

"We are very pleased with the very positive response and uptake of our convertible bond offering with the financial community, which we feel fully validates our performance to date, and strategic plan for the future," said Noel Meaney, chief executive officer of Global Voice.

"This investment enables us to accelerate investment in key markets such as London, Amsterdam and Germany where we have already seeing strong advanced demand for our expanded service and infrastructure offerings," he added.

Global Voice Group was established by Meaney in 2002 following a management buyout of the data centre company, Metromedia Fiber Networks Ireland.

That deal saw MFN transfer ownership of its 75-kilometre fibre ring in Dublin, as well as its 125,000 square foot data centre in Dublin, to Global Voice. MFN Ireland had spent over $100m constructing the two assets, both of which were launched just seven months before MFN's parent company declared bankruptcy in the US.

Headquartered in Germany, Global Voice also has offices in Dublin and the Netherlands, and has its financial headquarters in Singapore, where it is listed on the local stock exchange.

© 2007 ENN

Choosing a cloud hosting partner with confidence

More from The Register

next story
729 teraflops, 71,000-core Super cost just US$5,500 to build
Cloud doubters, this isn't going to be your best day
Want to STUFF Facebook with blatant ADVERTISING? Fine! But you must PAY
Pony up or push off, Zuck tells social marketeers
Oi, Europe! Tell US feds to GTFO of our servers, say Microsoft and pals
By writing a really angry letter about how it's harming our cloud business, ta
SAVE ME, NASA system builder, from my DEAD WORKSTATION
Anal-retentive hardware nerd in paws-on workstation crisis
Microsoft adds video offering to Office 365. Oh NOES, you'll need Adobe Flash
Lovely presentations... but not on your Flash-hating mobe
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.