A technology firm backed by golfer Padraig Harrington and financier Dermot Desmond has raised stg£7.5 million (€8.4 million) as part of a major restructuring.
U4EA, which is headed by Harrington’s brother, Columb, has laid off 40 staff and is in talks with its main shareholders about further funding in preparation for what it called “economic times ahead”. The company is based in Britain, but has an engineering team in Cork.
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