IN THE PAPERS
In The Papers 31 January
31-01-2011
by Sylvia Leatham
Valeo Vision to hire 100 Galway staff | Seedsup.com raises EUR3.6m for investment fund
The Irish Independent reports that Dublin-based Endeco Technologies is to create 30 jobs over the next year, after receiving an investment of more than EUR800,000. Endeco, which specialises in energy management technologies, is to hire software development and sales and marketing staff as it seeks to triple its workforce. The move comes after an investment led by the AIB Seed Capital Fund. Additional funding was raised through Enterprise Ireland and private investors.
The paper also reports that a new website is challenging candidates in the general election to do a job application interview with voters. Telluswhy.ie, the brainchild of Trinity College politics student Daniel Philbin Bowman, is asking candidates what qualifies them to run the country and will provide the answers for the public to see.
In more news of the election, Fine Gael's internet gremlins struck again on Sunday night when the party's website was seen to promote doing business in Armenia, the paper also reports. Enda Kenny's new line-up of candidates on the party website was followed by a file saying: 'Explore your professional opportunity by a visit: New Armenian Business and Jobs Directories'.
The Irish Examiner reports that Fianna Fail has until Monday to respond to communications from the Data Protection Commissioner (DPC), which is investigating complaints that the party sent unsolicited emails to a number of people. Four people complained to the watchdog after they received personalised emails in the name of newly elected party leader Micheal Martin. The complainants said they neither consented to their details being used to contact them in this way, nor did they know how Fianna Fail got their email addresses.
The paper also says that crime gangs are extorting thousands of euro from Irish businesses by attacking and hijacking their computer systems and websites, according to the Garda high-tech crime squad. The Computer Crime Investigation Unit said foreign gangs, sometimes in conjunction with Irish criminals, are flying in specialist hackers from abroad to target companies here. Detective Inspector Paul Gillen said a "major problem" for law enforcement agencies is criminals' ability to avoid having to possess criminal evidence by storing their data remotely on a server in another country.
The Wall Street Journal reports that Nintendo's 3DS, the first games console to offer video games in 3D without glasses, will be available in Europe on 25 March. European retailers will receive the device two days ahead of the US, where it will retail for USD249.99. It will be released in Japan on 26 February. No European price has been given yet, although the device is expected to sell for around EUR250 to EUR300.
The Sunday Business Post reports that former Hosting 365 general manager Ed Byrne has launched Digital Mines, a new cloud computing company. Byrne said the company would mainly target the European market.
The paper also notes that Information Mosaic has raised EUR800,000 in new investment funding from Enterprise Ireland. The firm saw its revenues rise to EUR17.2 million in 2009.
The paper also notes that Irish chip firm Movidius will demo its mobile 3D technology at the Mobile World Congress in Barcelona in February. The company claims to be the first to produce a full 3D platform for mobile phones that does not require special glasses.
The same paper notes that technology is the most trusted business sector in Ireland, according to a new study by Edelman. Trust in Irish businesses in general was at 46 percent, compared to 75 percent for tech firms.
The paper also says that US multinational Xilinx has said it will expand its research team in Ireland. The firm already employs 250 people here. It plans to hire a number of additional PhD level researchers this year.
The paper also reports that Seedsup.com, a new firm that aims to match start-ups with seed stage investors, has already attracted over 55 potential investors, prior to formal launch on Tuesday. The investors have made a combined fund of EUR3.6 million available. Over 200 startups have already registered with the site.
The same paper reports that Valeo Vision, a Galway firm that makes high-tech cameras for cars, has won a EUR17 million investment from its French parent company. The Tuam-based firm plans to hire 100 staff in R&D.
The Sunday Tribune reports that retained profits at Kerry-based financial services group Fexco nearly doubled to EUR190 million in 2009 after it sold its money-transfer division. The company's retained profits were up from EUR97 million the previous year, according to a summary balance sheet posted on the company's website. Fexco is not required to publish detailed accounts as it has unlimited liability status. Fexco's coffers were boosted to the tune of EUR123 million when Western Union bought its money-transfer business.
The paper also notes that US networking site LinkedIn, which recently set up its international headquarters in Ireland, has cited "political and economic instability in some countries, specifically in Ireland" as one of the increased challenges and risks facing the business. The company lodged a document with the US Securities Exchange Commission last week saying that it expected "to significantly expand our international operations in the future" in sales, technical and support operations.
The paper also notes that Dublin Bus commuters will soon know exactly how long they will have to wait for the next bus, with the launch of an electronic real-time information system at a dozen stops across the city. The 12 selected stops that will go live next month have already been the subject of tests, and so far the system has proved accurate, a National Transport Authority spokesman said. The high-tech system will be rolled out throughout the year to include 450 of the busiest bus stops in the capital.
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