Irish-owned electronic transactions firm Alphyra confirmed today it has received an approach from First Data Corporation.
A statement from Alphyra said the talks are continuing, and the company has provided certain information on the company to FDC.
Alphyra is currently the subject of a management buyout (MBO). Alphyra's management team, backed by Benchmark Capital, has offered €2.45 per share for the company, valuing it at €80 million.
The management team includes Alphyra chief executive Mr John Nagle, who owns 5 per cent of the company, and finance director Mr John Williamson. The offer has been recommended by the company's two independent directors, Mr Nick Koumarianos and Mr Grant Wilkinson.
First Data, which is based in Denver, provides electronic commerce and payment services and owns the Western Union money transfer network.
