NEWS IN BRIEF
Daily Digest 13 November
13-11-2009
by Deirdre McArdle
WRI acquired by investment firm | GameStop to sell digital content in-store
Dublin-based online hotel reservations firm Web Reservations International (WRI) has been acquired by affiliates of private equity investment firm Hellman & Friedman, for an undisclosed amount. WRI CEO Feargal Mooney called Hellman & Friedman "the right partner" for the online firm in its next phase of growth. "We have an ambitious agenda for growth and further innovation. Hellman & Friedman's experience in media and marketing services as well as the technology sector will provide valued support and resources to accelerate that growth and capitalise on strategic business opportunities of which we are uniquely positioned to take advantage." WRI is perhaps best known for its flagship brand Hostelworld.com, and was founded in 1999.
In more news of acquisitions, Liberty Global, the parent company of UPC, has announced it is to buy German cable operator Unity Media for EUR3.5 billion in a share purchase agreement. Unity Media is the second largest cable network in Germany after Kabel Deutschland. Mike Fries, president and CEO of Liberty Global, said the acquisition extends Liberty's European footprint and "has significant untapped growth potential in one of the fastest growing cable markets in Europe. The addition of Unity Media not only enhances our European presence, but adds significant scale to our global operations, as our footprint, including Unity Media, will exceed 40 million homes." Completion of the transaction is expected to occur in the first half of 2010 and is subject to regulatory approval.
Telecoms software firm BroadSoft officially opened its new offices in Belfast on Friday. The US firm has had a presence in Belfast since 2006, and has confirmed it is to expand this presence further with the creation of 23 new software developer positions. The firm's new office will be based in the Northern Ireland Science Park.
Dublin Coach has rolled out a GPS tracking and real-time passenger information service. The service is available for download on Apple's App Store, and was developed by Irish software firm uTrack. The system uses Google Maps and allows passengers to see when a coach will arrive at their bus stop in "real time" as well as check if their coach is delayed for any reason. Passengers can also use the service to check their flight schedules at Dublin Airport. Dublin Coach operates a coach service between Portlaoise and Dublin Airport.
Eighty-eight percent of companies in Cork surveyed by Cork Chamber have said the Cork Metropolitan Area Network (MAN) has been of significant benefit to their business. The vast majority of those surveyed (nine out of ten) said the network has allowed them to cut their telecoms costs. e-Net, the company which manages the State's regional fibre networks, has welcomed the results.
Forty-four Irish companies are setting off to the United Arab Emirates on Monday on an Enterprise Ireland trade mission, accompanied by Minister for Trade and Employment Billy Kelleher. The companies will represent a range of sectors including IT and telecoms software, third level education services, cleantech products and services, and e-learning and e-Government applications. Minister Kelleher said this trade mission is an important one. "United Arab Emirates is the fastest growing market for Irish companies in the Gulf region. Sales by Irish companies in the UAE were EUR333 million last year, an annual increase of 14 percent," he said.
Videogames retailer GameStop has announced it is to begin testing a new system that allows consumers to buy add-on game content such as new levels in-store. The content will be delivered directly to the users' Xbox Live or PlayStation Network account. GameStop has been vocal about full digital game downloads, saying it isn't practical given today's internet speeds. However, speaking at the BMO Capital Markets 17th Annual Digital Entertainment Conference, GameStop COO Paul Raines said: "We do believe... that the add-on downloadable market with smaller file sizes will grow." GameStop will begin testing the service in the first quarter of 2010.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 