Wednesday 18 January 2017

Ex-Eircom boss Herb Hribar could be set for IPO

Published 10/05/2015 | 02:30

Herb Hribar plays ball with Taoiseach Enda Kenny
Herb Hribar plays ball with Taoiseach Enda Kenny

Herb Hribar left Eircom last year as the telecom company owners bottled it when wobbly stock markets derailed their long-running plans to float the debt-laden €2bn- valued company.

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Herb (above, playing ball with Enda Kenny) and his team could have made pots of money from a mega bonus scheme if the float had gone well. Some top brass didn't do badly as the bonus scheme still paid out - to a degree - when they left.

But there's no keeping Herb away from the markets. He's just hooked up with ScienceLogic, an innovative US firm that monitors cloud and IT services. Herb joined the board a few weeks ago as Goldman Sachs (his advisers at Eircom) led a €40m Series D funding round, which also included Intel capital and NEA. Previously ScienceLogic had raised around €37m from investors. They could be set to float in the next "year or two," said CEO Dave Link recently.

There have been well-placed rumblings that Eircom could be getting ready to reheat its own plans to float. Could Herb make it to the markets before his former employers?

Sunday Indo Business

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