The company, which is headed by Donal Byrne, develops products to improve the efficiency of IT networks. It works in close collaboration with Cisco.
Corvil has 35 permanent staff, having halved its workforce across its Dublin, UK and New York offices last year after Cisco started selling Corvil’s products as part of its systems, eliminating its need for a direct salesforce. It has about 15 contract workers.
Corvil was founded by Professor John Lewis, a mathematician, and other academics at the Dublin Institute for Advanced Studies (DIAS) six years ago. Lewis died in January 2004, aged 71.
The company’s software can predict how much space a piece of digital information will take up on a network and then make sure that much space is available, cutting delays and the danger of information being lost.
The latest set of accounts show that Corvil posted sales of €120,594 for the 19 months to the end of July 2005 and operating expenses of €15.3m.
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Its accumulated losses stood at €22m at the end of the fiscal period.