Eirco Web Services, a provider of business-to-business technology, is close to finalising funding worth between £5 million (€6.35 million) and £10 million to help it grow in Europe and the US.
Founder and chief executive, Ms Sharon Kennedy, said negotiations were at an advanced stage and revealed a major telecoms company had offered to buy the start-up company outright.
Eirco was founded just five months ago when Ms Kennedy and a team of software engineers decided to leave Ericsson Ireland. The company has grown quickly and moved offices this week to accommodate extra staff. She said she was currently weighing up funding offers from several potential investors from the Republic and overseas. These would be finalised within two weeks, she added.
Ms Kennedy said Eirco would use the cash to open sales offices in New York and London, as well as funding further research and development. She said the company was working on several new products compatible with next generation mobile technology such as GPRS and UMTS.
The current funding round would value the company at about £30 million, said Ms Kennedy. Further funding would be required early next year, she added.
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