Talks are underway between the two parties while existing private equity investors, including ICC Venture Capital and Cairn Holdings, are also expected to participate in the funding round. The money will be used to finance Microsol’s expansion activities in the US and Britain. The funding is being organised by BDO Simpson Xavier.
Headed by Denis O’Connor, the company was founded in 1988 and has so far attracted €15m in venture capital funding. Revenues for the 12 months to the end of March are expected to reach €12m, up from €7.6m in the previous year. Turnover next year is projected at €16.8m while its stated target is to grow sales to over $100m within five years. The company is expected to record a small profit in