Clarus deal values SAI and Redeo at £50m

US e-commerce solutions provider Clarus has sealed a £50 million (€63

US e-commerce solutions provider Clarus has sealed a £50 million (€63.5 million) deal to buy SAI (Ireland) and its subsidiary, Redeo Technologies at the Innovation Centre of the National Technological Park, Plassey, Limerick. Mr Paul Sheane, chief executive of Shannon Development, described the deal as "a major endorsement of the business incubation and innovation process" developed by his company at the Innovation Centre.

Both entrepreneurs are graduates of the University of Limerick who were assisted in setting up the company by Shannon Development. Having started with three employees, it now has a staff of over 60 providing e-payments and e-commerce solutions and services including training, recruiting and consulting to a global client base.