Northern Ireland

8over8: Derry firm sold to Aveva Group for £27m

The two founders of the Londonderry technology company 8over8 will share a payout of more than £10m after selling their business.

Gerry McGurgan and Declan Gribbin set up the business 15 years ago.

The firm makes risk management software for the oil, gas, mining and other infrastructure industries. It has been sold to the Aveva Group for £27m.

Company filings show Mr McGurgan owned about a quarter of the business while Mr Gribbin had about 15%.

It has five other shareholders, including the chief executive Clare Colhoun.