Openet cuts losses as revenue soars

Pre-tax losses at Irish software firm, Openet last year narrowed to €2.4m after revenues jumped 11% to €97.9m.

The Dublin-based firm postponed plans last year for a floatation on the Nasdaq in New York after problems relating to the floatation of Facebook last May.

However, new figures by Openet Telecom Ltd show that the firm continued to expand last year, employing an additional 125 staff, to bring headcount to 618 while its R&D spend increased by 80%.