June 23, 2017 1:59 PM ET

Diversified Telecommunication Services

Company Overview of Magnet Networks Ltd.

Company Overview

Magnet Networks Ltd. provides broadband, telephony, VoIP, Wi-Fi, hosting, and other cloud solutions to businesses and consumers in Ireland. It offers voice, broadband, hosting, bundles, and cyber security solutions to small and medium businesses. The company also provides enterprises services, including connectivity, which include fixed IP, corporate IP transit, corporate LAN extension, wireless solutions, corporate bonded DSL, managed services, enhanced SLAs, global footprint, multisite VPN solutions, gigabit connectivity, and fiber network solutions; voice solutions that include video conferencing, contact centers, cloud hosted PBX, unified communications, and SIP trunking; SSL VPN for mul...

IDA Business and Technology Park


Dublin,  17


Founded in 2004


353 1 890 809000


353 1 681 0005

Key Executives for Magnet Networks Ltd.

Chief Executive Officer
Executive Chairman
Age: 63
Financial Controller
Chief Operating Officer
Technical Director and Regulatory Director
Compensation as of Fiscal Year 2016.

Magnet Networks Ltd. Key Developments

Magnet Networks Announces Earnings Results for the Year 2015; Provides Earnings Guidance for the Year 2016

Magnet Networks announced earnings results for the year 2015. For the year, the company has posted a loss of EUR 4 million. According to newly filed company accounts, this is down from a profit of EUR 15.6 million in 2014. Revenue fell to EUR 12.3 million, from EUR 12.8 million a year earlier. Magnet said it continued to trade on an 'ebitda-positive basis' despite the loss, and expected to continue doing so in 2016.

Magnet Opens New Office in Galway

Magnet has opened a new office in Galway to serve businesses across Galway, Mayo, Roscommon, Clare, Limerick, Tipperary, Sligo, Leitrim and Donegal. The West of Ireland hub will provide a sales function as well as local account management to companies in the region for Magnet's full suite of telecoms solutions. The hub will be led by Phil Clapperton, the former head of SME sales for Magnet in Dublin.

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