Ken Peterson Jr., the founder and chief executive of US-based private equity group Columbia Ventures Corporation (CVG) has acquired European Access providers Limited, which trades in the Republic of Ireland as Leap Broadband, in an all-cash deal. Founded in 2001, Leap Broadband pioneered broadband wireless services to the business market establishing an operational base in Dublin, Galway, Cork and Limerick. It has since moved into the unbundled local loop market, where it offers a high speed SDSL service.
The purchase of Leap Broadband increases CVG’s portfolio of Irish assets to three. It already owns Hibernia Atlantic, the owner and operator of a transatlantic fibre-optic network connecting Boston, New York, Halifax, Dublin, Manchester and London and based at Clonshaugh, north Dublin, and Magnet Networks. A provider of triple-play TV, broadband and telephony services, Magnet Networks is currently engaged in a massive effort to connect several new housing and commercial developments across Dublin to its fibre-optic network.