Sunday 15 September 2019

Ergo: Cyber firm Tines sets sights on US


Spending on cybersecurity has become a must for most businesses (stock photo)
Spending on cybersecurity has become a must for most businesses (stock photo)

Spending on cybersecurity has become a must for most businesses and one such Irish tech firm has accrued some big names in a short time.

Cybersecurity startup Tines, which was set up by Eoin Hinchy in early 2018, has launched a new offering that it claims will revolutionise the way in which companies deal with cyber attacks.

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Ergo notes that Tines' pitch seems to be working. It has already amassed a customer base including Bank of Ireland, McKesson Inc and DocuSign.

The company has big plans for an expansion into the United States, with Hinchy suggesting that the sector is large enough to build a billion-euro business in.

  • Fintech firm Revolut is upping its game to attract consumers to pay for its banking-as-a-service offering.

The company has already attracted over 200,000 Irish consumers, but its latest play may urge more to join.

Commission-free stock trading went live on the app last week for Irish ‘metal’ users.

Metal is the company’s highest premium offering, at around £12.99 (€14.20) a month. But it is also set to be rolled out to its basic and premium customers in the coming weeks.

BoyleSports poised to raise its stake in UK betting market

Betting on the UK market right now is widely considered to be a risky move. The appointment of Boris Johnson to prime minister, matched with a potential no-deal Brexit, has created a great deal of uncertainty.

Such uncertainty, however, has not deterred one of Ireland's largest bookmakers from making a play in the UK.

It was reported in these pages in June that BoyleSports had acquired Midlands-based independent bookie Wilf Gilbert for an undisclosed sum.

The deal gave BoyleSports instant access to a network in the UK, and it intends to complete further acquisitions which will bring its overall count to 100 shops within 12 months.

Another such deal is imminent. Ergo understands that BoyleSports is in talks with another group, to bring the company's UK estate up to more than 20 shops. It is expected to close in the coming weeks.

Speaking back in June, chief executive Conor Gray said the acquisition had realised the company's "long-term goal" to bring retail betting to the UK market.

He also tipped the fixed-odds betting terminal (FOBT) stake-reduction legislation to "radically" change the UK's betting environment.

Earlier in the year, the British government introduced strict regulations on FOBTs, which have previously been described as the "crack cocaine" of gambling.

The changes cut the maximum stake that can be placed on the terminals - which are electronic slot machines - from £100 to £2.

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