Dermot Desmond takes stake in Datalex

Dermot Desmond's investment vehicle, has taken a 13.55% stake in airline software company Datalex.

It seems that IIU bought the stake when it was sold by a unit of Swiss Air earlier this week.

Datalex has suffered with the downturn of the travel industry since mid-2001. The share price fell dramatically and in April 2002 the company announced that it was to voluntarily de-list from Nasdaq and it then took a primary listing on the Irish Stock Exchange.

For the half year ended June 2002 the company announced losses but these were reduced since the previous half year.