New Irish software/Internet millionaires are almost a daily occurrence - the latest pair being MediaNet founders, Tom Kelly and Stuart Fogarty, who have pocketed an estimated £12 million (€15 million) after selling 60 per cent of their company to Via net.works.
The MediaNet buyout was announced just a day after Cognotec founder, Brian MacCaba, announced that Japanese Internet investor, Softbank, has joined Warburg Pincus on Cognotec's shareholders' list, a move seen by many as a precursor to a flotation for Cognotec on Nasdaq or one of the European exchanges.
Current Account has been around for a while and can remember when Cognotec was a simple business information service operating out of the former IBEC offices in Kildare Street.
But Brian MacCaba has built up a hugely-successful business in dealing room software, and bringing in shareholders who can add something other than money to the business.
Warburg Pincus now owns 25 per cent of the company and can provide investment banking expertise if and when Cognotec moves to a market listing. Softbank provides acknowledged expertise in e-commerce.
