Tech

Exclusive: Altada to be sold to founding investor in unexpected turn of events

Datech, which is led by Jeffrey Leo, is expected to succeed in its bid to acquire the tech firm ahead of a rival offer

Altada’s former co-chief executives Allan Beechinor and Niamh Parker are not expected to be offered roles under new ownership

A founding investor in Altada has succeeded in his bid to acquire the technology company out of receivership ahead of the preferred bidder.

Employees are on Thursday evening being informed that an offer put forward by Datech has been accepted with a deal expected to be completed shortly.

This marks a significant turn of events from a High Court hearing on Wednesday when Judge Brian Cregan was told the receiver to Altada was in favour ...