The Dublin-based Bromley Group is seeking $25 million (€29.06 million) in second-round funding, following the acquisition of Dutch firm Tzu Tech.

The company, which is focused on business intelligence technology, will use the additional funding to accelerate growth into foreign markets, increase research and development, and seek further acquisitions. Existing shareholders, the technology entrepreneur Mr Pat McDonagh and Mr Pierce Farrell, may take part in the funding round but the focus will be on attracting institutional shareholders to strengthen the group.

The acquisition of Tzu Tech, which was a small section of Dutch firm Ringrosa, cost about £1 million (€1.3 million). It will give Bromley access to a new relationship marketing product focused on campaign technology. Bromley plans to integrate Tzu Tech's product with its customer relationship management product range, dedicated to the hotel and leisure sector, to offer a wider range of business intelligence services. Between six and 10 Tzu Tech staff are likely to move to Bromley following the acquisition.

Bromley clients include EMC, Dell, Bank of Ireland, Jurys Doyle and Brown Thomas. It is seeking to focus on the hotel, leisure and telecoms sectors in the future.

Bromley developed its flagship Fastmart product specifically for the Jurys Doyle hotel group but has focused on making it a generic offering, according to Mr Matthew Maxwell, Bromley chief executive. FastMart's applications include end-to-end campaign management, e-commerce and contact management features. It also offers customers fast access to key performance indicators.

Bromley recently signed a deal with a US firm that will enable that company to sell Bromley's products in the US. The Dublin company will earn revenue from software licence fees.

The company's other main product, TeleMart, brings together electronic billing information, from cellular and fixed-line service providers, with call detail records and pools the information in a single data warehouse. As part of its expansion plans, the company aims to set up a British office and expand an existing office in Washington. This will involve doubling staff numbers within 12 months.

Bromley expects to generate in excess of $5 million in turnover this year and is forecasting a move into profit within two years. Mr Maxwell holds more than 50 per cent of the company, Mr McDonagh holds an estimated 24 per cent, Mr Farrell holds around 9 per cent, staff hold 10 per cent and Enterprise Ireland holds about 7 per cent.