Business

Altada to be sold as co-chief executives lose control of AI firm

Allan Beechinor and Niamh Parker are reportedly no longer in control of company, after a receiver was appointed

Niamh Parker and Allan Beechinor, co-chief executives, Altada: sources close to the firm say they have lost control of the business. Picture: Bryan Meade

Altada, the Cork-based AI firm, is set to be sold over the coming weeks and its co-chief executives Allan Beechinor and Niamh Parker are no longer in control of the firm, the Business Post understands.

The news comes after confirmation that Nicholas O’Dwyer of Grant Thornton was appointed as receiver to the company last week.

The receiver was appointed after a request by Grattan Boylan, Alan Bruce, Lynn Bruce and Noreen Gallagher, four investors who ...