Escher market capitalisation soars after share surge

The Smurfit-backed Irish postal technology company Escher has seen its market cap soar to more than £42 million (€47 million) after a recent surge in its share price.

It means that early backer Michael Smurfit is sitting on a stake worth nearly £2.5 million – up from £1.8 million at the start of the year.

Part of the reason for the surge, according to analysts, is the recent purchase by activist hedge fund ...