Gladstone, an UK Plc business-to-business services provider, has acquired the Irish firm DLG Software Services in a deal worth £5.4 million in cash and stock.
DLG is a Dublin-based firm which is focused on testing software products that have been coverted into different local languages by companies.
Founded and run by a brother and sister team, Mr David Ayres and Ms Margaret Ayres, DLG, reported profit before tax of £228,127 for the year ended June 30th, 2000.
Both founding members of the firm together own a 100 per cent shareholding in the company and will become millionaires through the acquisition. They will stay on to further develop the company.
Mr Ayres said yesterday each of the 65 staff would receive a payment following the acquisition. He said the deal would enable the company to fast-track its expansion.
DLG's customer base includes major corporates such as Baltimore Technologies, Compaq, Corel, Ericcson Systems Trintech and Symantec.
The company will be integrated into Gladstone's Ge.world division which is a supplier of specialist localisation services. Ge.world has its headquarters in Dublin and has a production facility in Sligo.
It employs 140 people in Dublin and Sligo and is planning to increase staff by 100 next year. DLG employs 65 staff in Dublin.
In March Gladstone acquired the firm, Ge.media for £313.8 million.
