A round-up of today's other stories in brief

Dediserve takes over AventureHost

Technology services provider Dediserve has acquired Belfast-based web-hosting firm AventureHost for an undisclosed sum. The acquisition is predicted to bring Dediserve's annual revenue to €1 million by 2011.

AventureHost has been trading for seven years and is the second largest web-hosting firm in the North. Dediserve, which is based in Sandyford, Co Dublin, was established by Aidan McCarron in 2009 as a web infrastructure provider.

Nortev secures funding for horse respiratory product

Galway-based tech firm Nortev has received €170,000 in funding from Enterprise Equity Venture Capital to enable it to market a new product it has developed. Enterprise Equity Venture Capital, which manages the AIB Seed Capital Fund, provided the investment as part of a €317,000 funding round.

The money will be used to market Flexineb, a new product which controls respiratory diseases in horses.

The product involves the use of an equine mask which manages recurrent airway obstruction and inflammatory airway disease.

Nortev was founded in 2008 by business partners Gavan O’Sullivan and Declan Moran. The company was supported during initial start- up by Enterprise Ireland and a successful BES funding round in 2009.

Enterprise Equity Venture Capital jointly manages the AIB Seed Capital Fund of €53 million on a nationwide basis.

The fund was set up in 2007 and invests in start-up and early stage companies based in Ireland which have high growth potential.