Deals done this past week
An overview of the week in deals in the Irish technology sector.
Dublin VC firm sells Nanotech for US$34m
Dublin-based venture capital company Atlantic Bridge has sold one of its portfolio companies, Nanotech Semiconductors, to Gennum Corporation for US$34m.
The deal has a potential earn-out of up to US$6m if certain revenue targets are achieved by Nanotech over the next 12 months.
Nanotech is a fabless semiconductor company focusing on analog and mixed-signal integrated circuits for the fibre-optics communications marketplace.
Atlantic Bridge founding partner Brian Long believes Gennum’s acquisition of Nanotech creates one of the industry's most compelling optical IC transceiver portfolios.
Galway and Monaco institutes sign memorandum of understanding
Minister for Agriculture, Food and Marine Simon Coveney, TD, welcomed Prince Albert II of Monaco to the Marine Institute in Galway last week.
A historic memorandum of understanding had been drawn up by the Marine Institute in Galway and the Institut Océanographique of Monaco to coincide with the visit. This memorandum will cultivate an increased level of interchange of ideas for the mutual benefit of both organisations.
The memorandum is designed to further develop joint events and outreach and awareness activities by both organisations in a range of important areas of marine education, environmental protection, renewable ocean energy and the ecosystem approach to fisheries management.
Eircom and O2 in first Irish mobile sharing deal
Eircom and Telefonica O2 Ireland have signed a deal to embark on what they describe as the first comprehensive mobile network sharing agreement in the country.
With growing demand for higher bandwidth services across Ireland, both companies say the partnership will facilitate the introduction of new technologies to provide customers with wider and faster broadband speeds.
The agreement brings greater co-operation in a number of areas of mobile network sharing, such as site equipment, power supply, technology and transmission sharing.
Wherever possible, existing sites of both operators will be consolidated and new sites will be jointly built. A dedicated team, made up of existing network staff from both organisations, will be established to manage the day-to-day build and operation of the distinct networks.
While O2 and Eircom will work closely together, there is no transfer of assets and spectrum will not be shared under the new arrangement.
Vodafone acquires IP firm Interfusion Networks
In what could be seen as a strong statement of intent for the business and government fixed-line, fibre and wireless markets, Vodafone has acquired Irish IP network operator Interfusion Networks, for an undisclosed sum.
The acquisition of Interfusion Networks Ltd. reinforces Vodafone Ireland’s position as a total communications provider for businesses and public-sector organisations, including the provision of IP-VPN-based services.
IP networks facilitate the convergence of voice and data, allowing Vodafone to provide managed IP networks to business customers, further enabling a secure, scalable and managed data network.
Vodafone Ireland will now market and sell a combined offering of innovative IP networking, IP voice, data applications and unified communications services to Irish businesses. This complements its existing suite of fixed, mobile and convergent solutions.
Vodafone Ireland enterprise director, Anne O’Leary, said that in acquiring IP-VPN capability, Vodafone Ireland can confidently enable business customers to better manage their current complex data telecommunications requirements and drive efficiency.
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