Datalex launches €25m share sale that may see Dermot Desmond take majority stake

Datalex, an ecommerce software provider to airlines, confirmed on Wednesday it plans to raise €25 million in a multipronged share sale, with much of the proceeds being used to repay loans from its largest shareholder, Dermot Desmond.
Mr Desmond’s IIU Nominees investment unit, which already owns 40.3 per cent of the company, may see his stake rise to as much as 52.5 per cent, depending on how many of the new shares on offer he ultimately ends up buying.
Datalex owes another Desmond vehicle, Tireragh, some €19.1 million, including interest, which is being charged at 18 per cent.
Datalex also said that its revenues rose by 3 per cent in the first half of this year to $13.3 billion (€11.8 billion), while its gross profit jumped 25 per cent to $3.8 billion.
“Looking at the first half of 2024, I am pleased at the continued progress we have made in building a solid foundation for future growth,” said chief executive Jonathan Rockett.
“This growth centres on our offer and order management platform that will help bring customers on a journey away from legacy technology that has held back innovation within the airline industry for decades. Our offer and order management capabilities give airlines the technology needed to capitalise on maximising the airline retail opportunity.”