PaceMetrics, which earlier this year signed a global distribution deal for its software with Moneyline Telerate, has had a further investment from its principal backer IIU, which has increased its holding in the company.
IIU is the Dublin-based investment vehicle of Irish financier Dermot Desmond. It already has a portfolio of strategic holdings in technology companies, and the PaceMetrics deal gives it a foothold in the global straight-through processing software market. Desmond says that “PaceMetrics’ positioning in its target market coupled with its highly experienced management team make it a significant component of IIU’s overall technology portfolio”.
PaceMetrics’ core software development team is based in Dublin, with a business offices in London and a representative office in New York. The company says that it is expecting “several significant wins to be announced shortly”.