Derry software firm 8over8 bought over by Aveva in £27m deal
A home-grown Londonderry software firm has been taken over in a deal worth almost £27m.
Cambridge-based Aveva acquired 8over8 for £27.9m.
Based at the North West Regional Science Park in Londonderry, home-grown firm 8over8 sprang up as a spin-out from the city's university.
It now boasts offices across the US, Australia, the Middle East and the rest of Europe – but remains headquartered in its native Londonderry.
8over8's flagship product is ProCon - a risk management software platform - used by some of the largest oil and gas mining firms.
Richard Longdon chief executive Aveva said:
"Now more than ever before, our customers are seeking improved project control and reduced risk to their capital investment programmes.
"We are responding to the needs of all the industries we serve to help our OO customers maximise their return on capital investment, and our EPC customers to drive greater efficiency, enhancing their profitability and competitive differentiation while providing a well-established global platform to accelerate the rollout of ProCon.
"By acquiring 8over8, Aveva is uniquely placed to ensure both technical and contractual integrity changes are captured during the project life cycle and provides further proof of Aveva ongoing strategy to grow its business both organically and through acquisition."
Belfast Telegraph Digital