Technology firm sells to US suitor for €16.3m

A DUBLIN-based technology company has been bought out for €16.3 million. The main beneficiaries of the sale of Steel Trace to US firm Compuware Corporation will be Trinity Venture Capital and Net Decisions, another venture capital outfit.

Steel Trace employees and management team will also cash in as part of the sale.

“This transaction represents the natural progression of our long-term relationship with Compuware,” said Fergal McGovern, the founder and chief technology of officer of Steel Trace said in a statement.