Calyx Ireland voice and data unit flogged to management


Calyx Ireland voice and data unit flogged to management

Microscope contributor

Calyx management have acquired the €20m turnover voice and data security operation in Ireland from receivers Kavanagh Fennell and plan to trade as Unity Technology Solutions.

The deal was led by former Calyx CFO David Hardagen and Declan Hughes, group general manager for Calyx Ireland, weeks after the group was placed into the hands of administrators on both sides of the Irish Sea.

"The company is now debt free with excellent prospects and it is very much business as usual as far as we're concerned for all our staff, customers and clients," said Unity Technology Solutions chairman Hargaden.

Hardagen stepped down as Calyx's top number cruncher in the weeks preceding the collapse but prior to that role was Head of Corporate Finance at BDO Simpson Xavier.

Hughes will run the business as CEO out of the existing premises in Dublin and Cork and 75 jobs will be saved as a result of the acquisition. He ran Calyx Ireland for the past two years and before that was managing director at Maxima Ireland.

Calyx UK and the Irish software business have been snapped up by venture capitalist Better Capital, which will restructure the business as part of a turnaround plan to return the operations to profit.

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