The writing was on the wall for Marconi after the loss of its contract with BT earlier this year.

Payments software provider Trintech has appointed Dr Jim Mountjoy as a non-executive director to its board.

elta Partners has provided €1.1m seed funding for Dublin laser optics company Tsunami Photonics.

Beleaguered telecoms group Marconi made a massive £5.1bn loss in the last half year - equating to £28m a day - which was today seen as one of the worst corporate figures in history.