Billionaire backs buyer of text message giant

BILLIONAIRE financier Dermot Desmond has emerged as a backer of the €400 million takeover of a British text message business.

Mr Desmond’s International Investment & Underwriting is providing finance for the takeover, which is being led by Atlantic Bridge Ventures, an Irish venture capital company.

It is acquiring the telecoms products business of the London-listed LogicaCMG for €392m.