Latest news with #Deeter
Irish Independent
05-08-2025
- Business
- Irish Independent
Karl Deeter sells his business for €9m
Software Circle has bought about 95pc of Artificial Intelligence Finance Ltd (AIF), which supplies software to mortgage and insurance brokers. An initial payment of €4.3m has been made, with a further €0.67m to be paid on the first anniversary of completion, and the remaining €4m over the next two years based on reaching certain performance targets. Mr Deeter, a well-known mortgage broker and prominent contributor to Irish media on personal finance issues, owns about half the equity in AIF, which employs 23 people and has offices in Dublin and Ennis. He will continue to be part of the company's operations. Gavin Cockerill, the chief executive of Software Circle, which is listed on the AIM exchange in London, said the purchase fits his company's strategy of buying high-recurring specialist software businesses. The deal will mean that Software Circle's annual group revenue is expected to reach £22m. It is funding the purchase of Deeter's company out of existing cash reserves. AIF's online platform was first developed by Mr Deeter in 2006, when he saw a gap in the market while operating his own brokerage. He incorporated AIF in 2020, with start-up finance received from Enterprise Ireland and other sources. Shareholders include Tom Kennedy of Hostelworld, Paul McKeon of Propylon, Harry Largey of Commodore, Patrick Joy of Suretank and Austin Ryan of AMCS. The business accelerated its expansion following last year's acquisition of Money Advice, making it Ireland's dominant software supplier to mortgage and insurance brokers as well as lenders and life companies. The company offers a range of tools, such as OA Mortgage, OA Lender and OA Insurer, which it says integrate directly with life insurers and financial institutions. When it was put to him by the Irish Independent that to go from start-up to sale in just five years represents unusually swift progress, he said: 'Sometimes people do it quicker, but we have built a profitable business and that usually isn't done in that period of time.' Accounts for 2023 show AIF generated €2.2m in revenue, and it is understood there was a further growth in revenue last year. Software Circle said the valuation reflects expected annual earnings before interest and tax (EBIT), with the acquisition anticipated to be earnings-enhancing and cash-generative in its first year. Mr. Deeter said Software Circle's track record as a long-term software operator made it the right partner to take AIF to the next stage. 'This is about helping brokers become the number one delivery channel for digital financial services in Ireland,' he said. 'It's a vote of confidence in our team, our customers, and our vision.' He praised the support that AIF received from its initial investors and the state agency Enterprise Ireland. 'Our full team will remain in place, and for our customers it will be business as usual but with the added advantage of having a PLC owner who will help us deliver even more to our clients while moving us out of the 'start-up' space so we can tackle bigger opportunities.'
Yahoo
29-05-2025
- Business
- Yahoo
NVIDIA (NVDA) Reported 'Fantastic' Q1 Results, Veteran AI Investor Says
NVIDIA Corporation (NASDAQ:NVDA)'s Q1 results were "fantastic" and showed that the chip maker is not having trouble meeting demand, Byron Deeter said yesterday on CNZBC. A partner at Bessemer Venture Partners, Deeter was described by CNBC as "a noted cloud AI and software investor." NVDA's results show that it's "still able to deliver on the supply side," the investor stated. He added that "there's never been a question" about the strength of the demand for the company's chips. The major cloud-infrastructure players said that they are "begging their supply chains to deliver these chips," Deeter noted. As a result, if NVIDIA Corporation (NASDAQ:NVDA) is able to produce large numbers of chips, the tech giant will be very successful in the "short term," Deeter suggested. On the other hand, in the longer term, as the large cloud-infrastructure players produce more of their own chips, NVDA's "performance" could undergo "some pressure," the investor warned. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
20-05-2025
- Business
- Associated Press
The 49ers sell a minority share of the team to 3 Bay Area families
EAGAN, Minn. (AP) — The San Francisco 49ers announced that they have sold small shares in the team to three Bay Area families. The Niners said the investments that give the new families a non-controlling minority interest in the team were approved by the NFL at league meetings on Tuesday. The shares were purchased by the Deeter family, led by Byron and Allison Deeter; the Griffith family, led by Calla and Will Griffith; and the Khosla family, led by Neal and Vinod Khosla. Sportico first reported the deal last week, saying it was for about 6% of the team and an $8.5 billion valuation. Byron Deeter is a partner at Bessemer Venture Partners Will Griffith is a partner at ICONIQ, a global investment firm. Neal Khosla is the CEO and founder of Curai, an artificial intelligence-enabled primary care company. The York family, led by team CEO Jed York, remain majority owners of the Niners and have full control of the team. ___ AP NFL:
New York Times
15-05-2025
- Business
- New York Times
San Francisco 49ers to sell minority stake in team to trio of local families
The San Francisco 49ers are in the process of selling 6.2 percent of the team to a trio of Bay Area families, according to a league source familiar with the proposal. The York family, who own the 49ers, would sell 3.1 percent to the Khosla family, 2.1 percent to the Deeter family and 1 percent to William Griffith. Advertisement The league's finance committee has recommended approval of the transactions at next week's NFL owners meeting in Minnesota. Vinod Khosla, 70, was the co-founder of Sun Microsystems and is currently the managing director of Khosla Ventures out of Menlo Park. Byron Deeter, 50, is a partner at Bessemer Venture Partners, which has offices in San Francisco and Redwood City. Deeter graduated from UC Berkeley, where he played rugby. Griffith, 53, is a partner at ICONIQ Capital in San Francisco. He played football at Dartmouth and earned an MBA from Stanford. Earlier this year, the NFL owners approved an 8 percent sale of the Philadelphia Eagles to a pair of individuals, reportedly boosting the franchise's value to $8.3 billion. The New York Giants, meanwhile, are reportedly looking to sell a 10 percent stake in the team. If the 49ers' transaction is approved, Jed York would control approximately 91 percent of the club. The 49ers declined to comment on the proposal on Thursday.
Yahoo
20-04-2025
- Yahoo
Bethesda man kidnaps woman at gunpoint, barricades himself in vehicle: police
The Brief A Bethesda man is facing multiple charges after police say he kidnapped a woman at gunpoint and barricaded himself in a vehicle. Officers observed the woman, who was a passenger, jump out of the suspect's vehicle. The suspect, 31-year-old Robert Deeter of Bethesda, has been charged with kidnapping, first-degree assault, stalking, harassment and multiple handgun charges. GAITHERSBURG, Md. - A Bethesda man has been arrested after police say he kidnapped a woman at gunpoint and barricaded himself in a vehicle. The suspect, 31-year-old Robert Deeter of Bethesda, has been charged with kidnapping, first-degree assault, stalking, harassment and multiple handgun charges. Montgomery County police responded to the area for the report of a kidnapping on Friday, April 18, in the 10300 block of Old Georgetown Road in Bethesda around 2:33 p.m. During the investigation, officers located Deeter in the 7000 block of Democracy Boulevard, driving a red Toyota RAV4 in the area and observed a woman on the passenger side. Officers followed Deeter to the area of Rockledge Drive and I-270, where the woman jumped out of the vehicle. Officers spoke with the woman victim, who confirmed that Deeter, who she knew, had kidnapped her at gunpoint. Officers continued to follow Deeter to the area of Old Georgetown Road and Beech Avenue, where he barricaded himself inside the vehicle and refused to get out of the car. Negotiators communicated with Deeter and successfully convinced him to surrender. Deeter was taken into custody, and a firearm was recovered from the vehicle. He is being held without bond pending a bond hearing. The Source Information from the Montgomery County Department of Police contributed to this report.
