Monday 24 November 2014

Texans in '€36m bid' for Dublin Summit

Published 25/07/2014 | 02:30

Paddy Cosgrave, founder of the Dublin Web Summit Photo: Colin Keegan/Collins
Paddy Cosgrave, founder of the Dublin Web Summit Photo: Colin Keegan/Collins

ONE of the biggest tech events in the world is said to be in talks to buy the company behind the Dublin Web Summit in a deal that may run to tens of millions of euro.

South by SouthWest (SXSW) is one of the highest profile conferences in the world. The festival and conference takes place in Austin, Texas, and has become a top event in the tech sphere.

Twitter and FourSquare are among the many successful start-ups to have launched at the conference.

The company that runs that event is now believed to have approached The Summit about a possible deal, and may pay as much as $48m (€36m) for it.

The Summit was set up by Paddy Cosgrave just over four years ago. In that time, the event has grown from a relatively small conference focused on the Irish tech scene to one of the biggest tech events in Europe, attracting a host of "A list" stars from the sector globally.

Alongside the main event, The Summit has also run "F.ounders" – a closed doors conference featuring many of the same speakers as the summit itself.

Past speakers have included former US Treasury Secretary Larry Summers and Skype founder Niklas Zennstrom. Bono has also been known to appear at the event.

Messages left with The Summit were not returned.

Irish Independent

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