PCH buys TNS Distribution for up to 21m

Cork-headquartered global supply chain solutions company PCH International has bought TNS Distribution for a consideration of up to €21m. The acquisition involves an immediate payment of €6m by PCH, which has its operational headquarters in Shenzhen, China. PCH will also pay up to €5m over three years for the company, which is a European distributor of consumer electronics products and accessories, depending on the latter’s performance. An additional payment will be made over the same period based on the overall performance of the PCH Group, and will range from between €5m and 10m. Ernst & Young managed the transaction on behalf of PCH. TNS Distribution is based in Ireland, and has offices in the…

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The Smart Accessibility Awards 2012, a competition worth €200,000 that calls for developers from across Europe to design smartphone apps which take into consideration the needs of older people and people with disabilities, was launched today by the Vodafone Foundation and its partners. To encourage Irish interest in this international competition for new apps, the National Digital Research Centre (NDRA) has linked with Vodafone and its partners – the NCBI, IIA and mobile open community group Mobile Monday – and will be hosting a two-day workshop at NDRC’s HQ on Crane Street on the 21 and 22 August. These leading Irish interests from the digital research, internet and mobile community have joined…

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MSD plant in Ballydine, Co Tipperary

Pharmaceutical multinational MSD is closing its manufacturing facility in Rathdrum, Co Wicklow, by the end of 2015, affecting 280 jobs on the site. The move is part of MSD’s ongoing review of its worldwide manufacturing capabilities that has resulted in sites being sold, closed or consolidated in all regions all over the world. The plant in Rathdrum makes ingredients for respiratory care, infectious disease and cardiovascular medicines. Manufacturing activities will start to be phased out in 2014 but no staff reductions are expected until the end of 2014, according to MSD. It plans to relocate products manufactured in Rathdrum to its sites in Ballydine , Co Tipperary and Singapore, as well as…

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Business and Leadership Ltd.

A €100m pharmaceutical R&D; centre at MSD in Ballydine, Co Tipperary was officially opened by Taoiseach Enda Kenny this morning. Construction on the facility on the existing Ballydine site began in September 2007 and 70 new, high-calibre roles have been created since then. MSD, which employs 2,300 people at eight operations throughout Ireland, said another 50 jobs could be created as further innovative medicines are developed at the centre. Six new medicines are currently in development at MSD Ballydine , including new candidate medicines for the combined treatment of high cholesterol and type II diabetes, and for the treatment of hepatitis C. An additional €6 million investment is already in the planning phase…

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Business and Leadership Ltd.

TNS Distribution has announced its expansion into the Asia Pacific region by opening offices in Sydney and Singapore. Based in Dublin, TNS Distribution has global operations with bases in the UK, Germany, France, Singapore, Sweden, Australia, Spain and China. It is a trade only distributor of consumer electronics and accessories for Apple products. The company has also started to offer services using PCH International entities in mainland China, Hong Kong and Japan. PCH International acquired TNS Distribution in June 2011. “We have developed a highly successful and sophisticated business model in Europe which we can now offer to our global retail partners for the Asia Pacific region,” said John McHugh, co-founder of TNS Distribution . Ivan Eustace, co-founder…

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robertdunn

Cable broadband and TV player UPC has ratcheted up its broadband subscriber numbers and now reaches 148,000 subscribers. CEO Robert Dunn said €400 million has been invested in upgrading the company’s Irish network. The company now passes some 877,400 homes overall, out of which 713,300 are termed revenue-generating units. Subscribers for UPC’s digital cable services stood at 276,900 while subscribers for its analog services stood at 153,600. The company has 74,300 MMDS subscribers. UPC currently serves 148,100 homes with high-speed cable broadband and has a total addressable broadband market at present of 593,000 homes. The company is also currently building out a next-generation network that will offer speeds of up…

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Business and Leadership Ltd.

Overall trust in government in Ireland has risen 15 points to 35pc over the last year, while trust in banks has risen by three points to 9pc, according to the Irish findings of the 2012 Edelman Trust Barometer. The survey of trust in institutions across 25 countries and 30,000 people reveals that globally, trust in government now stands at 43pc, down 9pcc. This is the largest global fall in government in 12 years. Overall levels of trust in Ireland improved very marginally over the past 12 months, rising two points to 41pc. While Ireland was previously the least trusting country globally, trust is now lower in Germany, Spain, Japan and…

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US medical giant ResMed

San Diego-headquartered medical device manufacturer ResMed has acquired UCD spin-out BiancaMed in an all-cash deal. Original investors including DFJ ePlanet Capital and Enterprise Ireland are believed to receive a significant premium on their €11m investment in the company. BiancaMed is one of an emerging generation of young Irish medical device companies who are developing breakthrough technologies. It has developed a contactless, accurate device to measure sleep and breathing and combat deaths arising from the sleep disorder sleep apnea. Dr Philip de Chazal, Dr Conor Hanley and Prof Conor Heneghan founded the company in 2003 to commercialise research that emerged from the UCD School of Electrical, Electronic and Mechanical Engineering. The company employs…

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Business and Leadership Ltd.

Over the past 18 months AirSpeed Telecom has achieved 40pc revenue growth and taken on 12 new staff, according to CEO Liam O’Kelly, who was the winner of the RSM Entrepreneur of the Year Award at the European Business Awards last May. A broadcast engineer by profession, O’Kelly had originally set up a company called Viscom, which built TV stations and broadcast facilities globally. By 2002, new radio technologies were emerging and he could see that these had the real potential to offer an alternative telecommunications system to businesses all over Ireland, including in remote regions such as Donegal, Kerry and along the west coast of Ireland. “The existing operators…

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Business and Leadership Ltd.

Dublin-headquartered Salmon Software has won a contract to install its Salmon Treasurer treasury management system (TMS) at global charity Plan International. The system was selected after an international tender as Plan seeks to streamline its global treasury management and reporting across 50 countries. Plan International, which works to promote child rights and lift children out of poverty across Africa, Asia and the Americas, had been using spreadsheets to manage its cash, foreign exchange and branch funding. “We asked for expressions of interest from 19 companies,” said Annemarie Moore, group treasurer, Plan International Inc. “Following detailed questionnaires and demonstrations from five shortlisted companies we selected Salmon Software . Our selection team was made up of…

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