Eircom confirmed yesterday it had sold a network management subsidiary called Accuris to a consortium of investors that included the technology entrepreneur, Mr Gilbert Little.

Cladbourne Investments, which also includes technology investors such as Mr Larry Quinn, Mr David Megan and Mr Joe Cunningham, purchased the firm from Eircom for a small sum.

The e-zine Electricnews.net reported last night that Accuris would continue to operate on a standalone basis and that the acquisition was privately funded.

Accuris was established in 1997 as a niche software developer focused on the network management needs of telecom firms. At its peak 18 months ago, Accuris employed 120 people.

It was originally a joint venture project formed by the members of a strategic alliance between Eircom, KPN and Telia. In May 2001, Eircom purchased KPN's remaining 50 per cent share in Accuris for €7.6 million.