Deals Done

1 Feb 2010

An overview of the week in deals in the Irish technology sector including Bono’s venture capital firm Elevation and Killarney-based software company Monex.

Elevation invests

Humanitarian rockstar and U2 frontman Bono was in the headlines last week as his venture capital firm Elevation made a US$125-million investment in Yelp, a US firm specialising in local search whose technology, which centres on user generated reviews, has taken root in major metros across the US, Canada, UK and Ireland.

Percana meets with Pearl Group

Irish software, outsourcing and consultancy firm Percana Group has secured a major business process outsourcing (BPO) contract with one of the UK’s Top 10 life assurers, Pearl Group.

The new agreement will result in an 11-year contract for Percana covering the full administration of Pearl’s Irish L&P business.

Hertz chooses Monex

Killarney currency processing firm Monex is to create 14 new software jobs on the back of securing a major multi-currency treasury-management deal last week with car hire firm Hertz across Europe.

Bulgaria gets an Openmind

Meanwhile Irish tech firm Openmind Networks prepares to roll out a next-generation SMS platform in Bulgaria after striking a major deal with M-Tel, part of the Mobilkom Austria Group and the leading mobile operator in Bulgaria.