Connect with us

Technology

Irish fintech Glantus acquires Technology Insight for up to $9.3m

Published

on

The move marks the financial technology company’s further expansion in the US market and is its first acquisition since it went public.

Glantus has acquired US-based software company Technology Insight for $9.3m.

Technology Insight brings to Glantus a customer base of 35 global companies, some of which include Fortune 500 and 1000 companies such as SAP, Oracle and PeopleSoft.

Glantus, which went public in London in May, is an enterprise software provider specialising in automation and analytics for the accounts payable market.

Headquartered in Massachusetts, Technology Insight provides web-based tools and reports to help customers perform comprehensive operational analysis and duplicate payment identification.

The acquisition marks the Irish fintech’s expansion in the US market and is its first acquisition since it went public. The move is expected to increase its earnings per share.

In May, the company debuted on the London Stock Exchange’s AIM market with an IPO of £1.02 per share. At the time, the company’s market cap was approximately £37m.

Support Silicon Republic

“Our goal is to become a leader in AP technology through a mix of strong organic growth and acquisition, and the addition of TIC is another key step in that exciting process,” said Glantus CEO and founder Maurice Healy.

Karl Andersson, CEO and founder of Technology Insight, said the company recognises that customers are increasingly looking for automation and AI to increase business efficiency.

Andersson, who will become the senior vice-president of acquisitions and development, said: “With Glantus, we now have the advanced technology platform and the team behind us to delivers additional services to our customers.”

Glantus is headquartered in Dublin and has offices in London and California. It announced earlier this year that it is establishing a new base in Northern Ireland, and it has been growing its international presence in recent years with acquisitions in the US and the UK.

It has two principal operational divisions covering EMEA and the US, and its tech is used by more than 300 customers including Diageo and Abbott.

In 2020, the company’s revenue grew by more than 150pc year-on-year to €8.5m.

Source link

Technology

2021 iPhone photography awards – in pictures | Technology

Published

on

The 14th annual iPhone photography awards offer glimpses of beauty, hope and the endurance of the human spirit. Out of thousands of submissions, photojournalist Istvan Kerekes of Hungary was named the grand prize winner for his image Transylvanian Shepherds. In it, two rugged shepherds traverse an equally rugged industrial landscape, bearing a pair of lambs in their arms.

Source link

Continue Reading

Technology

With Alphabet’s legendary commitment to products, we can’t wait to see what its robotics biz Intrinsic achieves • The Register

Published

on

Alphabet today launched its latest tech startup, Intrinsic, which aims to build commercial software that will power industrial robots.

Intrinsic will focus on developing software control tools for industrial robots used in manufacturing, we’re told. Its pitch is that the days of humans having to manually program and adjust a robot’s every move are over, and that mechanical bots should be more autonomous and smart, thanks to advances in artificial intelligence and leaps in training techniques.

This could make robots easier to direct – give them a task, and they’ll figure out the specifics – and more efficient – the AI can work out the best way to achieve its goal.

“Over the last few years, our team has been exploring how to give industrial robots the ability to sense, learn, and automatically make adjustments as they’re completing tasks, so they work in a wider range of settings and applications,” said CEO Wendy Tan White.

“Working in collaboration with teams across Alphabet, and with our partners in real-world manufacturing settings, we’ve been testing software that uses techniques like automated perception, deep learning, reinforcement learning, motion planning, simulation, and force control.”

Tan White – a British entrepreneur and investor who was made an MBE by the Queen in 2016 for her services to the tech industry – will leave her role as vice president of X, Alphabet’s moonshot R&D lab, to concentrate on Intrinsic.

She earlier co-founded and was CEO of website-building biz Moonfruit, and helped multiple early-stage companies get up and running as a general partner at Entrepreneur First, a tech accelerator. She is also a board trustee of the UK’s Alan Turing Institute, and member of Blighty’s Digital Economic Council.

“I loved the role I played in creating platforms that inspired the imagination and entrepreneurship of people all over the world, and I’ve recently stepped into a similar opportunity: I’m delighted to share that I’m now leading Intrinsic, a new Alphabet company,” she said.

The new outfit is another venture to emerge from Google-parent Alphabet’s X labs, along with Waymo, the self-driving car startup; and Verily, a biotech biz. ®

Source link

Continue Reading

Technology

Charles River to create 90 new jobs at Ballina biologics site

Published

on

Charles River is expanding its testing capabilities in Ballina as part of its partnership with Covid-19 vaccine manufacturer AstraZeneca.

Contract research organisation Charles River Laboratories is planning an €8m site expansion in Ballina to facilitate batch release testing for Covid-19 vaccines from AstraZeneca.

The expansion at the Mayo site will create an additional 1,500 sq m of lab space and 90 highly skilled jobs in the area over the next three years.

Click here to check out the top sci-tech employers hiring right now.

The company provides longstanding partners AstraZeneca with outsourced regulated safety and development support on a range of treatments and vaccines, including testing and facilitating the deployment of Vaxzevria for Covid-19 and Fluenz for seasonal infleunza.

The latest investment follows earlier expansions at the Ballina site and Charles River recently announced plans to establish a dedicated laboratory space to handle testing of SARS-CoV-2 and other similar pathogens that cause human disease.

“We are incredibly proud of the transformational changes we have implemented on site and the role that Charles River has played in supporting the safe and timely roll-out of AstraZeneca’s Covid-19 vaccine,” said Liam McHale, site director for Charles River Ballina.

“Throughout the pandemic, our site remained fully operational while keeping our employees safe and having a positive impact on human health. Our expanded facility will provide us with the increased capacity needed to continue the essential services we provide to our clients.”

Charles River acquired the Ballina facility, which focuses on biologics testing, in 2002. The company employs 230 people at its two facilities in Ireland, including the Mayo site and a site in Dublin, established in 2017, which serves as the EMEA and APAC headquarters for the company’s microbial solutions division.

IDA Ireland is supporting the expansion. Mary Buckley, executive director of the agency, said Charles River is an “employer of long standing” in Co Mayo.

“The enhancement of its product lines and the development of additional capability at the Ballina facility is most welcome,” she added. “Today’s announcement is strongly aligned to IDA Ireland’s regional pillar and its continued commitment to winning jobs and investment in regional locations.”

Dan Wygal, country president for AstraZeneca Ireland, added: “Our Covid-19 vaccine, Vaxzevria, undergoes extremely robust safety and quality testing prior to becoming available for patients. We are committed to bringing safe, effective vaccines to Ireland and other markets as quickly as possible, and Charles River will continue to be an important partner in this regard.”

Source link

Continue Reading

Trending

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates 
directly on your inbox.

You have Successfully Subscribed!