Shares prices in telecoms group eircom rose sharply today as the company revealed it had received a preliminary approach, which could lead to a takeover.

Similarity Systems, the Dublin based data quality management software vendor, has announced it has secured an additional €2m in a round of financing led by AIB Equity. Other new investors in this round were Ion Equity and HotOrigin.

Eircom PLC said Valentia Telecommunications Ltd now holds 1,946,174,822 ordinary shares in the group, representing 88.14%.