The Irish Times Business Person of the Month: Terry Clune, chief executive of CluneTech

Technology entrepreneur Terry Clune has been chosen as The Irish Times Business Person of the Month for June, an award run in association with Bank of Ireland.

Mr Clune is poised to secure a near €350 million pay-day after his CluneTech group agreed to sell payroll software developer Immedis to US multinational UKG in a deal reported to be worth €575 million.

Immedis, a subsidiary of Mr Clune’s Kilkenny-based CluneTech business, sells software that aids companies in managing their payrolls efficiently across different countries and currencies.

Mr Clune established Immedis in response to a growing need from businesses with operations in multiple countries, making it increasingly difficult to manage their payrolls across their different bases. Clients include pharmaceutical giant Abbvie, Harvard University in the US, and ride-hailing service Uber. In the Republic, Immedis numbers ESB International and Dornan Engineering among its customers.

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The businessman established CluneTech in 1996, originally under the Taxback brand. The group has a reputation for developing businesses and systems dealing with practical problems that companies face, including tax compliance, global and cross-border VAT payments, sales and payroll.