Management team buys out Swiftcall

Dublin-based Swiftcall Ireland, which offers low-cost international telephone calls to the domestic and business market, has been bought out by its management team – chief executive officer Tommy Tuite and Fergus Kiernan. Swiftcall claims to have 60,000 residential customers using its service and a 33% share of the Irish calling card market. It was set up by Tom McCabe in 1994, but later sold to KDDI of Japan in 1998. Tuite and Kiernan are heading up the team which will buy back 100% of the company from KDDI. Swiftcall employs 30 people and has invested in new infrastructure to better compete with eircom and BT Ireland. It also plans to enter the broadband market before the end of the year.