Irish telecoms outfit eircom is to provide a fully managed service solution for earthport's Internet-based payment and money transfer platforms. Under the agreement eircom will host the UK company's Internet payment hardware and application infrastructure in its managed services centre in Dublin.
The global five year deal is considered to be one of the largest managed service deals secured by an Irish company. Worth around £5 million in revenue to eircom, the agreement includes an equity stake in earthport of 375,000 ordinary shares (less than 0.5% equity stake).
The deal with eircom will provide earthport with round-the-clock network and infrastructure monitoring together with scalable capacity planning and consultancy, say the companies. The system is capable of handling up to 150 million debit and credit transactions daily.
Graham Newell, CEO, earthport, says: "We needed a vendor that could provide a speedy implementation with a high degree of in-built flexibility. eircom was able to devise and specify a solution that fully satisfied earthport's global requirements. This will greatly enhance our capability to roll out our offering to the marketplace especially for the banking segment".