US buyer for Derry IT firm

Padrag Canavan, managing director, Singularity. (0711C20)
Padrag Canavan, managing director, Singularity. (0711C20)

Derry telecoms firm Singularity has been bought by American company Kofax in a deal worth £30million.

Founded by Derry businessman Padraig Canavan, Singularity employs around 220 people and is based in Patrick Street.

Its core product is now a business process management (BPM) solution which can be tailored and applied across a range of industries.

Mr Canavan said he is “excited to now be part of Kofax.”

“I’m very happy to continue as the Senior Vice President of BPM Software Sales at Kofax and along with the Singularity team remain fully committed to our future success.”

Read more in Friday’s Journal