Intel et al. exit FeedHenry to Red Hat

The deal represents an exit for Intel Capital's AppUp fund, Kernel Capital's Bank of Ireland Seed and Early Stage Equity vehicle, ACT Venture Capital's AIB Start Up Accelerator Fund and Enterprise Ireland.

FeedHenry opened a new office in Waterford with the support of its backers, added 100 new recruits and undertook international expansion.

US-based Red Hat, an open-source app development platform provider, said it was attracted to the deal by FeedHenry's open Node javascript infrastructure.

Previous funding
Kernel provided €500,000 to FeedHenry as part of a larger syndicated funding round in 2011.

In June last year, Intel Capital led a €7m funding round for the company, alongside ACT, Kernel and Enterprise Ireland.

Company
FeedHenry was founded in Waterford, Ireland, in 2008. It span out from the Telecommunications and Systems Software Group, which is part of the Waterford Institute of Technology, in 2010.

The company's product allows developers to create apps for the Android, iOS, Windows Phone and Blackberry platforms, as well as hybrid, HTML5 and web apps. Its customer base includes Aer Lingus, O2 UK and Ireland and Baystate Health.

People
Cathal McGloin is CEO of FeedHenry.

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• Topics
• Exits
• UK / Ireland
• Technology
• Intel Capital
• Ireland