An Irish direct communications company has been sold for an undisclosed sum to Experian, the global data and communications company.
Ireland Direct Communications Ltd was 70 per cent owned by Mr Lorcan Lynch, and 30 per cent owned by Mr Christopher Clifford. It was founded by them in 1998.
Turnover for the company increased threefold in the year to end February 2004, rising to €3.5 million. Profits increased by an even greater factor, with accumulated profits standing at almost €600,000 in February 2004, as against €105,529 in 2003, Mr Lynch said.
The company employs 15 people and has offices in Dublin and a print and mail facility in Co Laois.
Mr Lynch has been appointed as managing director of Experian's marketing division in Ireland. He said the acquisition meant that the Irish operation could now use Experian products and adapt them to the Irish marketplace.
He said Ireland Direct was set up at a time when the only other such company in Ireland was PMI, which is owned by An Post. There are now three to four operators in the field. The company buys and sells data, builds databases, and helps firms manage their databases and reduce wastage by their marketing departments.
Experian already has operations in the Republic, in the consumer credit area, providing credit information in the business-to-business sector, and providing decision-making systems for Irish lenders. It is a subsidiary of GUS and has 13,000 employees around the world.
