The owners of a Cookstown engineering firm are the latest Irish industrialists to cash in on the soaring demand for equipment vital to the artificial intelligence (AI) sector.
TES Group has been bought by Legrand, one of France's largest industrial businesses.
The terms of the deal have not been disclosed but the price is likely to have been more than £100m.
Foresight, a private equity firm which backed TES two years ago, said it had made a fourfold return on its initial investment.
The deal was driven by TES's expertise in designing and making power systems for data centres.
