Similarity Systems agrees takeover

A DUBLIN technology company which had retained losses of €2.3 million at the end of 2004 has been sold for about €45m.

Similarity Systems, which develops software so company data is up-to-date, said it has agreed to be taken over by Nasdaq-listed Informatica Corporation.

The main beneficiaries of the deal will be Similarity Systems’ chief executive and founder Garry Moroney, businessman Jim Mountjoy and the venture capital firms Delta Partners and Trinity Venture Capital.