Spectel seeks money to expand

Software company, Spectel is seeking additional €15m in funding to allow the company expand.

Spectel dramatically pulled flotation plans due to poor market conditions.

The company has seen its valuation slip for around $220m when it was due to be floated to just $90m.

The funding round is expected to be led by Investcorp.

Spectel provides conferencing solutions and is based in Dublin.

The company recently laid of 45 staff from its 258 staff worldwide.