ICC Venture Capital has ploughed €3.3 million (£2.6 million) into an Athlone-based technology firm, 2PM Technologies. The group is developing a product that will enable business users to divert e-mails to their mobile phones. It hopes to launch the product in the new year.

ICC Venture Capital said the investment, which came from its private equity fund, would value the company at €16.5 million. Mr Tom Kirwan, from ICC, has joined the board of 2PM.

The company will use the cash from ICC to fine-tune its intelligent e-mail application and bring the product to market in Britain. It will open a sales office in Surrey shortly.