Even by the standards of an industry known for making fortunes, £24 million in one week is a lot. But, when Logica recently bought Aldiscon, the Irish telecommunications software company, for £57 million, that is what chairman Mr Jay Murray's 42 per cent stake was worth.

Mr James Francis Murray (53), is better known as the owner of Murray Telecommunications Group, the cable laying company which carries out work for Telecom Eireann, among others.

The company has contracts around Europe, and is said to have annual sales of £15 million. It has also been involved in laying pipes for Bord Gais since the mid-1980s.

Mr Murray is thought to have made money when he moved to England in the 1960s. While there he lived in Hale, Cheshire. He moved back to Ireland in the early 1970s and lived in Howth, where he kept a yacht.

His house in Howth is a large modern split-level bungalow on substantial grounds overlooking Dublin Bay. Mr Murray is believed to now spend most of his time outside the State. Back in Dublin, Mr Murray became involved in subcontracting work for Telecom Eireann and Dublin Gas, who were then upgrading their networks.

Subsequently he turned his attention to the British market, and he made a deal with STC, the multinational telephone company, to install more sophisticated equipment made by them.

In 1988, STC lent Murray Telecommunications £2.8 million to facilitate expansion. At the time, Murray employed 200 in Britain, mainly Irish nationals.

According to its latest report filed in the Companies' Office, Murray Telecommunications employs 350 people, and its headquarters are in Upper Mount Street, Dublin. It has also had a site in Templeogue, and offices in Luton. In the report, the company describes itself as an expert in optic fibre technology, and a consultancy provider. It says it is largely involved in laying cables for Telecom Eireann.

Its directors were listed as James Francis Murray of Howth, who has 118,000 shares out of the total of 200,000 shares, John McNamara of Cheshire; Christopher Murray of Stanford, Connecticut, US; who has 40,000 shares, and Eamon Daly of Castleknock, who has 6,000 shares.

Aldiscon International Engineering held 30,000 shares, and Gilbert Little held 6,000 shares. Mr Little founded Aldiscon, and had a 16 per cent stake in the company which was worth £9.12 million in the Logica buyout.

Mr Murray was one of the original investors in Aldiscon, but has not been active in the company. He was the main beneficiary of the sale of Aldiscon Ltd to Logica.