Cometgaze buys Altada out of receivership in €2.5m deal

The Cork-based tech company was put up for sale in November last year after it ran into significant financial difficulty and owed almost €10 million to creditors

Altada, which was led by husband and wife team Allan Beechinor and Niamh Parker, ran into severe financial difficulties last year

Cometgaze, the firm led by Integrity360 founder Eoin Goulding, has completed a €2.5 million deal to acquire troubled tech company Altada after a months-long saga.

The takeover deal has been finalised after a complex sales process that lasted almost three months. Under the terms of the deal, Cometgaze will pay €2.5 million to acquire Altada from receiver Nick O’Dwyer of Grant Thornton. All existing staff are to be retained.

It has been agreed that no ...