Dermot Desmond's International Investment and Underwriting (IIU) is in discussions to put €10m into Datalex, the troubled travel-software business where IIU is the biggest single investor. Dermot Desmond's International Investment and Underwriting (IIU) is in discussions to put €10m into Datalex, the troubled travel-software business where IIU is the biggest single investor. Desmond in talks with Datalex over €10m new fundingThe €10m would be made up of a €6.1m secured-loan facility, and €3.9m in new shares. The stock soared after the announcement of the IIU discussions yesterday afternoon - closing up 15.71pc on the day at 81c each. However, it added that it "anticipates a strong recovery in services revenue in 2019, notwithstanding a continued anticipated shortfall in services revenue compared to deployment costs incurred."

Source: Irish Independent March 13, 2019 02:32 UTC