Open source software giant Red Hat has acquired Irish technology company FeedHenry for €63.5m in cash.
FeedHenry, which is headed by Cathal McGloin, spun out from Waterford Institute of Technology’s Telecommunications Software and Systems Group (TSSG) in 2010.
The company creates a ‘mobile first’ platform for organisations that include Aer Lingus, Baystate Health and O2 UK. The company has offices in Dublin, Waterford, and Staines in England and Massachussets in the US.
A year ago, the company secured €7m in a funding round led by Intel Capital, leading to the creation of more than 100 jobs at FeedHenry’s Waterford and Dublin offices.
The FeedHenry platform offers developers the flexibility to create native (Android, iOS, Windows Phone and BlackBerry), hybrid, HTML5 or web apps.
FeedHenry has an open and extensible architecture based on Node.js for client and server side mobile app development.
IDC predicts the mobile application platform market will grow 38.7pc compound annual growth rate (CAGR) from US$1.4bn in 2013 to US$4.8bn by 2017.
Red Hat aims to align FeedHenry’s technology with its open hybrid cloud strategy.
The transaction is expected to close by the third quarter of Red Hat’s fiscal year 2015.