December, 2010


29
Dec 10

Tech firm Fleetmatics raises $68m

An Irish technology company has raised almost $70 million in a funding deal with international investors.

Fleetmatics, which is based in Blackrock in Dublin, received the funds from existing investor Investcorp Technology Partners and two new investors, Institutional Venture Partners and New World Ventures. The company has been in business since 2004 and has developed GPS vehicle tracking technology which is used by more than 12,500 businesses around the world.

As part of the deal, Oyster Capital, the investment firm owned by technology entrepreneur Bill McCabe, sold its stake in Fleetmatics.

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29
Dec 10

A Guide to Venture Capital

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21
Dec 10

Betbidder.com to create 50 jobs in Ireland

Online sports auction website Betbidder.com has announced the decision to launch and expand its business throughout Ireland next year.

The company currently employs 14 people but it’s thought up to 50 new jobs will be created with the move.

etbidder.com CEO Enda Morgan said: “Betbidder.com is a start-up Irish company with big ambitions to expand across Europe and beyond. Currently we employ 14 people and we anticipate creating another 50 jobs next year.

“We believe that Betbidder.com will revolutionise how people engage with sporting events. Our users have the opportunity to win large cash payouts for a minimal outlay.

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21
Dec 10

Frozen yogurt firm to create 90 jobs

A global frozen yogurt franchise is planning to create 90 jobs across the country over the next 18 months.

Yogen Fruz opened its first Irish store in Belfast’s Victoria Square shopping centre ten days ago, but is planning to open another ten outlets across the Republic.

Michael English, owner of the Irish franchise, said the company was extremely pleased with the sales figures from the Belfast store.

‘‘We are only open a week and we are trading very successfully,” said English. ‘‘So now we are expanding into the rest of Ireland.

We are looking for partners in Dublin, Galway, Limerick and Waterford and will be expanding into Britain in mid 2011.”

English said the business already had several enquiries and was trying to tie down a number of locations.

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20
Dec 10

US firm to create up to 75 jobs in Donegal

UP TO 75 new manufacturing jobs are to be created in Co Donegal over the next three years as part of a €10 million investment by US firm Zeus.

The South Carolina-headquartered company is to invest in a 3,700sq m expansion of its Letterkenny facility. The investment is supported by the Government through IDA Ireland.

Zeus Industrial Products is a developer and manufacturer of precision polymer extrusions, including specialist fluropolymer tubing solutions, for a range of industries.

Established in 1966, the company is privately held by the original founder Frank P Tourville and employs 1,200 people around the world.

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20
Dec 10

Guaranteed Endeavour funds for ten boot camp start-ups in Kerry

Ten start-up companies will be guaranteed an investment as part of an expanded business boot camp for up-and-coming entrepreneurs in Kerry next year, writes Gavin Daly.

The Endeavour programme, which was run for the first time last year, has been revamped to include the Endeavour Fund, which will invest in all ten companies that make it to the second stage of the programme.

The participants will also get to take part in an investor week, pitching to potential backers in Dublin, London and Silicon Valley.

Endeavour was started by technology entrepreneur Jerry Kennelly in conjunction with the Institute of Technology in Tralee and Shannon Development. Kerry Group will be a ‘‘supporting partner’’ of the programme next year and Kerry chief executive Stan McCarthy will mentor some of the participants, according to Kennelly.

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16
Dec 10

Tullamore company signs €3.74 million US deal

TULLAMORE company ATSR Ltd have signed a €3.74 million, multi-year partnership agreement with US company Ferno Washington, Inc, an Ohio-based provider of professional emergency, mortuary and healthcare products.

The deal was facilitated by Enterprise Ireland’s New York office. The partnership marks ATSR’s United States market debut. The company is already well entrenched in Canada.
ATSR, who have 25 employees, designs and manufactures fully integrated comunications and control systems for emergency vehicles (EMVs), including ambulances and fire engines.

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16
Dec 10

New Derry call centre to employ 300

Almost 300 jobs are to be created at a new call centre in Londonderry.

Irish customer service company Rigney Dolphin is expected to take on 297 new employees over the next three years.

Up to £4m per year will be generated in salaries, and £1.2m support was provided by Invest NI to secure the deal.

Enterprise Minister Arlene Foster said it was “good news” for the local economy.

“This investment comes at a challenging time for the economy in the north west and Northern Ireland as a whole,” the DUP minister said.

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15
Dec 10

Endeavour 2011 open to boost start-ups

Ireland’s fast-track programme for start-ups, Endeavour, has launched its 2011 programme, looking to attract high quality candidates with an ability to succeed in the entrepreneurial world.

Jerry Kennelly, co-founder of the Endeavour programme, has called on the hardest-working entrepreneurs to join the programme and grow to an investor-ready level.

“What we’re going to be looking for are people who are passionate, talented and driven,” said Kennelly to Siliconrepublic.

“We want people who are willing to put in the exceptional amount of hard work that is required to build a global company from zero.

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15
Dec 10

Avego introduces R&D investment programme, to create 35 jobs

Avego will expand its facilities in Kinsale, Co Cork, seeing the company undertake a major R&D investment programme and creating 35 new jobs over the next three years.

Supported by Enterprise Ireland, it was announced during an event when the Minister for Enterprise, Trade and Innovation Batt O’Keeffe TD opened the newly expanded facilities for the company.

Avego provides software and hardware solutions for improving the efficiency of passenger transport. It has offices in Dublin, China and the US.

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