Technology Business of Co down Entrepreneur is now being sold for up to £7m

siliconreview Technology Business of Co down Entrepreneur is now being sold for up to £7m

An entrepreneur who is from Northern Ireland had set up a software company that aided the local councils to act efficiently. This entrepreneur is now selling his business for £7.15 million. Tascomi was initially founded in1998 by Richard Martin who is also the majority shareholder of the company. The firm is mainly focused on Hillsborough and is a Co Down – based firm. It employs over 36 people and now Idox is on its way to procure it. It specializes in managing information and providing solutions/services.

Tascomi was considered to be one of the most successful indigenous firms in the north. It is also known to be a privately-owned software company. The firm got further recognition as the “high potential UK tech”.

The firm called Idox will be taking over Tascomi by paying £5.43 million as immediate cash in. But later the firm is said to give away £1.15 million so that it can clear all the debt. Finally, payment of £570,000 will be provided after or within a 7-month time frame.

Idox is a well-known firm that has over 900 people in 11 different countries. It has £73.7 million last year revenue generation last year.

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