European telco Viatel is set to invest €125 million in a major expansion, funded by Proventus Capital Partners.

The investment is expected to be on fiber infrastructure, cloud services and data centers.

Vitael said in a statement plans could also include a string of acquisitions, according to statement from the telco.

Dublin based Viatel claims it is one of Europe’s largest owners of transcontinental duct and fiber.

Viatel owns 8,500km of duct and fiber optic network infrastructure connecting 8 countries, 35 primary cities and 150 data centers.

CEO Colm Piercy said the extra funding will allow it to improve its services and extend its reach within Europe and to connect new locations in the USA, Canada, the Middle East and Asia.

Viatel is strategically positioning itself to be a major driving force in the inevitable consolidation of fragmented providers in the market, according to Piercy.

“We are now expanding our sales, technical and product development and delivery teams in London, Dublin, Paris, Amsterdam and Frankfurt,” said Piercy.

Proventus Capital Partners identified Viatel as a dynamic and growth oriented businesses throughout Europe, according to Henrik Bjerklin, investment director at Proventus Capital Partners.

“In Viatel, we have found an exciting mix of opportunity and we look forward to developing the company’s true potential,” said Bjerklin.