Carlow Nationalist – Mark hits the jackpot with the sale of a software company
Mark Hughes, CEO and co-founder of gaming software company Banach Technology
By Charlie Keegan
The entrepreneurial flair of 35-year-old Carlow man Mark Hughes has largely paid off with the recent $ 43 million (€ 36 million) sale of gaming software company Banach Technology, including Mark is CEO and co-founder.
Dublin-based Banach Technology is a “Sports Betting Solution Provider”, delivering new and innovative products to the sports betting industry from its headquarters in Dublin. The company has now been acquired by an Irish subsidiary of Australian online bookmaker PointsBet.
Mark Hughes is set to become COO at PointsBet, with the other three founders of Banach taking on leadership roles as well.
The youngest of six children of Seamus and Mary (née Carbery) of Carlow, Mark is married to Rebecca Dunne of Ballinabranna and they reside in the Killiney area of Dublin with their two young children.
Mark was educated at Bishop Foley Elementary School, Carlow and Presentation College, Askea. He graduated in economics and finance from UCD.
Having worked for six years at Paddy Power bookmakers in its Dublin headquarters, Mark has worked from the bottom up at the largest bookmakers in the country. Together with three work colleagues – Alex Zevenbergen, Rob Reck and Hadrien Lepretre – they played a leading role in the creation of the Quants department at Paddy Power. Quants is the use of mathematical and statistical methods in finance.
Diversifying on their own, the four former employees of Paddy Power created Banach Technology, after securing € 2.2 million in seed funding in July 2018. Banach employs around 40 people working in the field of technology and equipment. products.
Mark Hughes said: “I am extremely proud of the company and the team that we have built over the past few years. We couldn’t be more excited about the nascent opportunity in the United States and the role Banach’s team will play in accelerating and strengthening the pre-game, in-game and free-to-play offering. -play of PointsBet in the United States.