Irish Mobile Developer Secures US $7.5 Million

[London, ENGLAND] Mobile Internet developer
Macalla Software,
of Ireland, announced Friday it has secured US $7.5 million in
second round financing to expand its operations
worldwide.

Among the investors are The Reuters Greenhouse Fund,
3i Group and The Guinness Ulster Bank Equity Fund.

Norman Fiore, principal of The Reuters Greenhouse Fund,
said that Macalla Software was establishing itself
as a key international supplier of wireless technology
to the financial services sector.

“Our strategy is to continue to build a portfolio of
companies that together comprise a network of powerful
knowledge and business synergies,” said Fiore.

Neil Graham, investment director with 3i Group, spoke
of Macalla’s ability to recognize and capitalize on
market opportunities. He said the 3i Group was fully
behind Macalla’s management team.

Macalla is launching the latest version of its Mobility
product in the third quarter this year. Mobility
provides financial applications and market data to
WAP and other portable devices, enabling users to access
accounts, check quotes, and make trades worldwide around
the clock.

With offices in New York and London and headquarters in
Dublin, Ireland, Macalla Software has already begun to market
its products more aggressively. It is privately owned, one
its investors being the Irish Government via the company
development initiative Enterprise Ireland.

Michael Murphy, managing director of NCB Ventures, praised
the Macalla management team very highly, saying it
showed the company had the vision and products to stay at the
forefront of the wireless revolution.

Leading the management team is Chief Executive Niall
O’Cleirigh, who said the latest financing validated his
company’s business strategy and technology.

Applications for Macalla’s products are not limited
to finance, but include other areas such as online betting,
airline operations, and B2B, B2C portals.