From Left: Mark O’Brien, Commercial Branch Manager, Belfast City Branch, Bank of Ireland; Paul Brown, CEO, DisplayNote; Andy Bell, CTO, DisplayNote and Dr. Daniel McCaughan, CTO, Kernel Capital.
Belfast, 18th February 2016:
Bank of Ireland Kernel Capital portfolio company DisplayNote Technologies has signed a multi-million pound contract with Sahara PLC.
“This deal strengthens the relationship between Sahara and DisplayNote Technologies and, more importantly, it has produced a real game-changer for meeting rooms and huddle rooms. DisplayNote provide us with the very essence of re-inventing your boardroom, office or meeting room. Alongside Sahara’s range of award-winning interactive screens, DisplayNote now enable us to offer something truly innovative, making it easier than ever for our enterprise customers to share ideas and work together.”
Commented Shaun Marklew, Sales Director, Sahara PLC.
Established in Belfast in 2012, DisplayNote employ 35 people. The company’s innovative solutions enable people to collaborate in real-time across all devices. DisplayNote’s products, distributed globally, are available in 22 languages. Over 1.6 million devices incorporating DisplayNote’s software products have already been sold. Existing customers include NEC, BenQ and Triumph Board. This deal with Sahara plc follows a £1.25m investment in the company led by Kernel Capital to accelerate DisplayNote’s new product development.
Bank of Ireland Kernel Capital Growth Fund (NI) was designed to help SMEs in Northern Ireland to accelerate their growth. Invest Northern Ireland has committed £15 million of funding to this fund, which has the potential to invest over £24 million in SMEs over the next five years.
Invest NI’s investment in the Bank of Ireland Kernel Capital Fund is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020.
For further information:
Kernel Capital www.kernel-capital.com
Kernel Capital is an independent manager of the Bank of Ireland Kernel Venture Funds, comprising of £165m / €210m of funds raised through six separate venture capital funds in the years 2002, 2006, 2007, 2009, 2013 and 2015. These Funds are supported by Bank of Ireland, Invest NI, Enterprise Ireland, University of Limerick Foundation and NUI Galway Foundation. Kernel Capital is actively investing through the Bank of Ireland Kernel Capital Growth Funds targeting deal size for Kernel Capital’s element in the region of £0.5m to £2m in NI and €1m to €5m in the ROI, either as sole investor or larger deal size in syndication. These 10 year Growth Funds were raised in 2013 and 2015 and invest in Northern Ireland and the Republic of Ireland respectively. Kernel Capital is regulated by the Central Bank of Ireland.