Saturday 21 April 2018

Pageant raises Datalex stake to 10.5pc

John Mulligan

John Mulligan

Pageant Holdings, the investment vehicle controlled by businessman Nick Furlong, has boosted its stake in Irish travel software firm Datalex to 10.54pc.

Pageant last increased its stake – from 8.9pc to 9.15pc – during the summer.

A new filing with the Irish Stock Exchange yesterday indicated that Pageant has raised it again.

It now controls a little less than 7.8m shares in the software firm, valuing the stake at €7.8m. Shares in Datalex jumped more than 5pc yesterday, giving the company a market capitalisation of €72.2m.

It has been long speculated that Datalex could be a take-private target.

Its biggest shareholder is billionaire businessman Dermot Desmond, who owns 28pc of Datalex through his IIU vehicle. Datalex chairman, Paschal Taggart, owns 3.7pc of the firm.

Datalex is one of the main sponsors of this week's International Air Transport Association world passenger symposium in Dublin.

The company's software helps airlines to enhance their merchandising opportunities to boost income from passengers. Its clients include carriers from all over the world such as Delta, United, Air China, Virgin Australia and Aer Lingus.

In the first half of 2013, Datalex said its revenue jumped 13pc to $17.7m, while EBITDA rose 18pc to $3.1m.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business