Baldonnel-based Another9 completes €3m equity investment in New Jersey software company CTI
Baldonnel-based cloud and IT disaster recovery company Another9 has announced the completion of an equity investment in New Jersey-headquartered security software company Commercium Technologies Inc (CTI).
The investment is believed to be €3m.
CTI, which also has offices in Philadelphia, Atlanta, Chicago and Houston, will now be renamed CTI Global to reflect its "prominence in the enterprise security market internationally."
It said it would continue to focus on cloud, disaster recovery and IT services managed for clients, adding that it would aim to capitalise on synergies between the two companies in order to provide additional products.
CTI Global chief executive Steve O'Brien said the investment would allow the company to develop new products based on its existing infrastructure.
Digicel chairman Denis O'Brien, who is the largest shareholder in Independent News & Media (INM), the publisher of this newspaper, is Another9's majority shareholder.
Leslie Buckley, chairman of INM, will be chairman of CTI Global.
Present and former clients of CTI include Bloomberg, Boeing, Morgan Stanley and Pearson, RJ Reynolds Tobacco, the IMF, and Nato.
CTI Global chief executive for the Americas, William O'Brien, said the investment would provide with the company "with a better platform to scale and service our international clients and business opportunities while also providing the bona fides to offer a number of our security, identity and governance products as a managed service offering.
"We are seeing adoption of these services from a cloud perspective as being extremely efficient and economically compelling for our client base," he added.
Sunday Indo Business