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12/03/2002
Lagan Technologies to expand after funding boost
Local software company Lagan Technologies has revealed intentions to double its workforce over the next two years following the company's successful bid for venture capital funding.
Founded in 1994 as a spin-off from a university research project, Lagan Technologies has since grown to become one of Europe's leading specialists in customer interaction software.
The funding injection – thought to constitute a "substantial amount" of the £14 million on offer from venture capitalists Crescent Capital – will be invested in expanding Lagan Technologies' sales and marketing operations.
Speaking about the news, the Managing Director of Lagan Technologies, Des Speed, said he thought the investment would help the company exploit the opportunities arising from a recently secured contract from Birmingham City Council, enabling the software company to build on its "strong foothold in the rapidly growing UK local authority market".
Dr Alasdair McDonnell, SDLP Spokesperson on Enterprise Trade and Investment, welcomed the announcement, and said he was pleased to hear that 60 new jobs were to be created at the company's Boucher Road premises.
He added: "I am particularly delighted that Crescent Capital, which was established some years ago for this very purpose, has led in this round of venture capital funding.
"I congratulate the directors of Lagan Technologies, Crescent Capital and the IDB in making this happen."
(CL)
Founded in 1994 as a spin-off from a university research project, Lagan Technologies has since grown to become one of Europe's leading specialists in customer interaction software.
The funding injection – thought to constitute a "substantial amount" of the £14 million on offer from venture capitalists Crescent Capital – will be invested in expanding Lagan Technologies' sales and marketing operations.
Speaking about the news, the Managing Director of Lagan Technologies, Des Speed, said he thought the investment would help the company exploit the opportunities arising from a recently secured contract from Birmingham City Council, enabling the software company to build on its "strong foothold in the rapidly growing UK local authority market".
Dr Alasdair McDonnell, SDLP Spokesperson on Enterprise Trade and Investment, welcomed the announcement, and said he was pleased to hear that 60 new jobs were to be created at the company's Boucher Road premises.
He added: "I am particularly delighted that Crescent Capital, which was established some years ago for this very purpose, has led in this round of venture capital funding.
"I congratulate the directors of Lagan Technologies, Crescent Capital and the IDB in making this happen."
(CL)
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