Irish-backed US technology firm loses more than half its value

A Californian technology firm that is backed by Dublin funder Atlantic Bridge Ventures has lost more than half its value after cutting its revenue forecasts.

Ian Kehoe - avatar

Ian Kehoe

18th August, 2012
Dermot Desmond is an investor in Atlantic Bridge Ventures.

A Californian technology firm that is backed by Dublin funder Atlantic Bridge Ventures has lost more than half its value after cutting its revenue forecasts.

Envivio, which makes video-compression technology, saw its share fall by more than 50 per cent after the company said it expects revenue to be between $10 million and $11 million for the second quarter, down heavily on earlier forecasts.

Atlantic Bridge Ventures is backed by a string of Irish business bluebloods, including financier...

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