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FIFTEEN YEARS AFTER founding his online-payments company Realex Payments, Irish entrepreneur Colm Lyon is reaping the rewards.
Yesterday it was announced that New York-listed Global Payments had bought the Dublin-based firm in a deal worth €115 million – most of which will flow to the chief executive.
As of the end of last year, Lyon and his wife Niamh owned nearly 75% of the company’s shares, putting the pair in line for a potential €85-million plus return.
Realex, which employs 170 people across its offices in Dublin, London and Paris, will now be run under the wing of the Atlanta-headquartered company – which is worth $6.1 billion on the stock market and has 4,200 staff worldwide.
It will continue trading under the Realex name, although Lyon will stand down from his post as company chief executive as part of the deal.
In a blog post, he paid tribute to those who kept the faith in the early days of the company and helped get the fledgling firm off the ground:
For many on the Realex Payments journey, there will be some looking back to the early days, to the time when we couldn’t raise money, when family, friends and associates stepped in and provided us with the support we needed to get a basic service up and running. Asking for help was one of the best steps we took.”
‘Great news for Ireland’
According to the company’s last annual accounts, it turned over some €18.1 million and delivered an operating profit of €2.1 million for the year to April 2014.
That was a 27% increase in revenue on the previous year and a 67% rise in profits, with the vast bulk of the money coming from its trade in the UK and Ireland.
The company provides payment-processing services for companies selling online, including Virgin Atlantic, Paddy Power and the Automobile Association.
In a statement yesterday, Lyon said the announcement was “great news for our customers, for our employees and for Ireland”.
For Realex Payments’ existing 12,500 merchants, this deal means they can avail of Global Payments unmatched international presence, entering new markets and driving their global ecommerce business like never before,” he said.
“And for Realex Payments’ staff, the diversity of opportunity that comes with the deal is enormous.”
Inspector clueless strikes again.
Still though the bondholders will get their payment on time regardless of anything.
….meanwhile burglaries are going through the roof, communities are wide open because there are not enough Gardai to cover vast Districts at night. But didn’t the Gardai recently receive a fleet of new cars. Yes, Minister. Ford Caddy vans, that can only seat two Gardai. Ideal for when you need several Gardai to deal with a situation. This “New fleet” versus a high powered BMW X5 full of “travelling criminals” with weapons…laughable if it wasn’t so pathetic, a bit like David V Goliath…..unfortunately Communities are learning the hard way….
Nice use of “words”
Truth hurts Barry? It’s fact not fiction!
I came off as sarcastic. Wasn’t meant that way, I was referring to your “travelling criminals”. Nicely done.
Apologies Barry, I took your comment up completely arseways…
Taking on more Gardai is not the solution to the problem. The solution lies in freeing up the tightly regulated (and bureaucratic) framework in their protocols.
And having a society that is not devoid of civic pride and a sense of community.
@ITS….You have absolutely no idea.
They used to have the Renault 4 and Chrysler Avenger.
Sure Toorkeel. The images of Greece-style austerity riots failed to impress. The defaults on intr-European loans and subsequent bailouts failed to leave a mark. The spending experiment that has finally run out of other people’s money and no one noticed how the dots connect. Let’s go on another spending binge and take on more government workers. Even then, why stop there? Why not keep spending until the taxpayers are no more.
The same aul PR drivel will come out saying there is enough resources to police the country….. Bullsh*t…..
Start recruiting now
Taking on more government workers = more taxes and higher debt.
Gardai have to be paid.
Would u ever give it a rest!!!
You CANNOT spend money you don’t have. Why don’t people just get that?
Should they work for nothing?
“Student” go back into your warcraft game , maybe they might employ you in there
As for the detractors, e.g., Mary’s ad hominem attack on me, is yet another example of a non-contributor’s attempt at wit. And Dermot’s attempt at direction explains his lack of insight considering he isn’t contributing either.
Victims of crime (break ins ) in rural areas are having to pick up the guards themselves in their own car and bring them back to the beak in…..true..
The way I see it, the only way we could take on more Gardai is if:
1) We cut their pay to facilitate larger numbers
or
2) We borrow more money to retain existing salaries
Aside from that, I see an alternative: allow property owners the right to bear arms.
Gardai spend too much time doing paperwork. Most of this could be done by civilians which would release gardai for the duties they are trained for. Rather than firing public servants and paying them big pensions to do nothing they should be offered jobs in garda stations.
Or removing bureaucratic paperwork instead and simplifying things.
Speaking as an ex Police Officer (not Garda) civilianise! You don’t need a Garda in Dublin taking radio calls, this can be done by civilians with a Sargent supervising. Does the Garda still have mechanics, musicians, and scenes of crime officers who are Garda ?? If so why? Police should be out doing there job exercising there powers and not doing admin work, etc that civilians can do cheaper! Role on the thumbs down from the members who haven’t exercised there powers of arrest in years who would be out of there comfort zone actually out patrolling!
The Gardai have less civilians than almost all european forces. It’s been highlighted in many reports but the wheels of change turn very slowly in good old Ireland.
I can remember an advert in the paper, I think it was the Independent less than ten years ago for Garda band members , just to play the trumpet or whatever, it stated if they got the job they would be Garda!!! Although I thought it was the 1st of April it was real. Play the trumpet and become a Garda, you will never have to make an arrest as long as you can hold a tune!!!!! The Garda are 20 years behind modern Police forces, the government should have no involvement either in promoting senior officers. Judiciary and the state should be separate isn’t this why Egypt is currently protesting?????
when a garda investigates an incident, he/she will have to take statements, write up reports and respond to all the follow up queries… this takes up huge time which a civillian will not solve as all evidence to be gathered is gathered by the garda…
Michael,
The reason the Gardai have no civilians is because they treat civilians badly in everyday life. My friend know’s a protestor who was approached by a Guard who demanded his name etc despite being 100% peaceful. This would infuriate any ordinary citizen. Also, the Gardai treat everyone in an authoritative manner. A real police force respects its citizens whilst interacting with them. This encourages people to deal more closely with them and assist.
Like I said, I did the job but not with the Garda. Yes they take statements etc. but when I did it we handed our paperwork over to civilians to type, and update the victims. As a victim of crime have you ever tried to get in touch with a Garda? Impossible they are always on night shift! I am not saying the members are in any way at fault it’s the system. It’s 20 years out of date. Garda present cases at court why? Trained civilians can do this better than the Garda. Freeing them up to patrol the streets.
” As a victim of crime have you ever tried to get in touch with a Garda?”
Give citizens the right to bear arms on their properties – the only realistic solution.
In public, give citizens the right to bear pepper spray – deters muggers and attackers.
I totally agree with your comments, when my force went to civilians a lot of my colleagues treated them with contempt, stating only a Police Officer could do a particular job. That’s the Garda today! They need to change, it’s not easy but it needs to happen.
Michael i 100% agree with you thats the most sense ive heard all week and most members i think would agree. ITS student where have you been this thread has been open ages and you only start trolling now…. come on horse you need to get out of bed earlier.
100% agree with you. They are disrespectful of the law abiding and scared of real criminals. The result no strata of society respects them.
I recently had to give a statement to a Garda , relating to an incedent I had witnessed . The Garda came into my place of work , on “THEIR” day off, just so they’d have all the paperwork done …
Why can’t a civilian ( public servant do that job??)
Do you work in a chipper by any chance?
This man is a family law solicitor…he should have stuck to that as he hasn’t a clue about Police Force management
You cannot spend money you don’t have. We have to be realistic.
your missing the 3rd option. Restore garda levels to actually cope with the rising criminal “commuting crime gangs ” ( like them words barry ) . We as joe public are not asking for extra garda just a full restoration of the garda numbers to safely police our community.
Alan “We as joe public are not asking for extra garda just a full restoration of the garda numbers to safely police our community”
Speak for yourself, you do not represent the entire public. And since your reply is devoid of any realistic facts, I ask where do you think the money will come from to finance more government workers?
Dramatization of the facts won’t distort the facts:
1) These people have to be paid,
2) These people have to justify their existence,
3) Gardai already have proper resources.
Bollocks
“While we recognise and support the need to make overall budgetary savings of €3.5 billion next year, this can be done without slashing resources for frontline policing,” he said.” Shatter.
Amazing ! These idiots in government have not a clue. When Shatter’s house was burgled the gardai responded immediately , but this is not always the case for the rest of us.
I do not envy the Gardai their jobs.
Do those figures include reserves who work an odd few hours in a month?!
Thomas, depends on the Garda Reserve, my son gives up to 15 hours of unpaid time, and has faced plenty of threats and danger in the process! Ask any Full time Guard in the large station do they depend on the reserve and they will tell you ‘absolutely’
Btw that’s 15 hours plus per week…
Hate to break it to you Mary but the reserves are considered a hindrance more then a help!! While I’d imagine your young fella is eager & perhaps wants to join the force proper, what I hear is that they, as a collective body, are a waste of space! We need more actual Guards on the street & ramp up the policing! Not pretenders in a similar uniform!!
Mary,
I’m sorry but nuffsaid is 100% correct. The reserve are unwanted by rank and file Gardai. What is needed is more qualified Gardai. I hope your son gets in if that’s his overall aim.
Fair comments, where are all the trolls, do they not realise there is an article about the guards, must be asleep.
@marie
I know the reserve give there free time and fair play, but it’s not the answer , not even close, the reserves are now being used to bloat the numbers by the minister, at the end of the day a Garda has to complete the investigation himself and this is what takes up so much time for them which means they are not out on the street detecting crime, the reserve rightly does not have this duty and never will hence there use is limited in my opinion
What happened to the idea of deducting fines at source? Im sure many gardai are wasted bringing people on day trips to prison, not to mention the gardai in the office taking account of fines and warrants. The gardai joined the job to work on the streets, it’s our justice system forcing them behind desks.
I believe fines will be taken from wages/welfare sometime next year. Let’s not hold our breath though
When “inspector clueless” was burgled the culprit was caught and behind bars within a few days….
Not having a go at the Garda but how come inspector clueless got such preferental treatment ?.
don’t mind emergency services,education or health as long as we pay back bond holders,banks and builders
Why not cut solictors/barristers? If there are savings to make start there and lives don’t have to be put at risk. O, wait Alan Shatter is a barrister so I guess that makes them safe
get rid of the traffic core,hassling and delaying people speeding to work while criminals throw pipe bombs,shootings etc ,more gardai in the streets ,fine people for motoring offences,scrap penalty points,let the ordinary decent motorists get on there way and start tackling real crime
Same old drivel Mick.
Mick Lennon cop on
The problem in Irish society is that people think more penalties will deter violations – this hasn’t worked in any country. We have to be realistic.
Yet again deaths on the road outnumber crime deaths , murders etc tenfold. What a lamp !
@Paul I agree shatter is a plank
love the pun “cop” on, I see what you did there
Please Mr Shatter look at what solicitors earn from free legal aid and what it is costing the state every year?could some of that money not be put towards Garda resources?oh wait you used ta be a solicitor,that won’t be happening.
Gyp Rosetti – Do you realize it would cost more in terms of appeals (due to no lawyer provided) and unsuccessful prosecutions the taxpayer would be liable for? Everyone must have a right to a lawyer if they cannot afford one. Even in America, there is free legal aid. Otherwise, it would give an unfair trial.
Theoney should be put towards prisons.
spot on, Mick
Local paper reported on case in court where criminal looked for and got free legal aid despite pocketing €750 a week in benefits….you would pay TWO Garda recruits on that!!
@Gerard yea shatters always coming out with same old drivel
Its burglaries have risen in the last few years , the same ‘years’ in which the numbers of gardai has declined , does that not stick out to you as some sort of true reflection . Where is your evidence of gardai not doing their job properly is causing an increase in burglaries ?
Sean go easy on it student a Guard once asked his friend their name and IT has taken extreme offence to that…
Sorry Mary I forgot about that. He has a case Haha
What strike in 2009 its student? Your anti Garda agenda is clear as day. Please change the record.
Don’t remember striking in 2009. Crap must a missed that one !!
Alan Kelleher – I have nothing against Gardai. You clearly missed my point:
Taking on more government workers costs money and we are financially broke.
Instead, reducing their paperwork bureaucracy should be undertaken.
What is all the talk about taking on civilians – that is exactly what a garda is, a civilian
not really. the term civilian came from when AGS first formed with a sort of military backround. It has pretty much stuck since the 1920′s.
Adrian a civilian is not a member of their countrys armed forces therefore Gardaí are civilians
Lower pay and increase numbers.
Simple.
Public sector unions such as the GRA would probably blackmail our government into keeping their excessive and unsustainable level of pay.
GRA is not a union. Gardai are not allowed to have a union.
The GRA are a representative organisation for the gardai…. The guards are prohibited from having a trade union… Get your facts right at least some if the time ITS
Peter & Tony:
Remember the Garda strike in 2009 and the one in 1998 over pay?
Yes, I do get my facts right (unlike the detractors on here).
First I heard of a strike in 2009
Well okay: a mini-strike in 2009.
I don’t agree with it student however why do all ye guards out there posting just give a load of abuse when ye are criticised. This is not helping the perception of ordinary people have of you. We just want a police force that will do the job you are paid for.
The majority do do the job they are paid for and much more !
No you don’t Sean. If you did, burglaries would be down. Public sector pay increments reward failure. And to think some of the people on here want more Gardai to be hired! More government workers = higher taxes and more debt and more austerity.
If anything, we should be downsizing the government – not taking on more.
Its you have no idea of policing strategy which is reflected in you ill informed statements , You make poor comments never backed up by proofs or statistics , I wonder what is it you do or study that qualifies you to make all these ridiculous observations on stuff you clearly know nothing about. And as for commenting ‘no you don’t sean’. You have no idea of how I work or any idea of what is required of me day to day . And if your so well informed ! What was this strike in 2009 you speak of ? Now off with you Not bothered with u ,
Do the job properly and have and show respect for citizens
Shatter is a waister can’t do anything wright like the rest of those bigheads in the dail I would love to see a bolt of lightning hitting all of them and no I didn’t vote those idiots in
If you are so unhappy being a guard, you should leave ,do something you like because u really don’t seem to like what you are doing. its not good for you to be moaning all the time you will end up in an early grave. you just picked the wrong job.
When did I express being unhappy , point an example out there
naoibh b:
I don’t know who you are or where you’re from but your reply indicates a distinct lack of knowledge leaving you with a single rhetorical impediment, one of which I will refrain from taking any further advantage.
Reported for defamation.
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