Tech

Former investor who lost $1m comes back to bid for Altada

JKO Capital, a vehicle led by former Formula One boss Eddie Jordan and Keith O’Loughlin, is also seeking to buy firm from receivership

Niamh Parker and Allan Beechinor, co-chief executives, Altada: bidders for the company do not envisage a role for them. Picture: Bryan Meade

A founding investor in the troubled tech firm Altada, who previously lost $1 million on the company, has teamed up with the biggest single shareholder to acquire it from receivership.

Jeffrey Leo, who last week successfully petitioned for the appointment of a provisional liquidator to the firm, said his bid with Rocktop Partners, a Texan asset manager, involves keeping existing shareholders onboard and ensuring employees stay on.

Leo, a former Morgan Stanley banker, lost $1 ...