Vannin takes big stake in relocated firm
MT subsidiary Vannin Ventures has taken a majority stake in a new Isle of Man company, formed to market technology designed to help phone users with hearing loss.
Goshawk Communications Ltd will bring together Vannin Ventures' commercial and technological capability with intellectual property developed by the UK Goshawk team.
The new company will host a research and development centre and operations hub as the business incubates.
The venture will see personalised auditory profiles created for hearing-impaired users, to improve their access to voice services on mobile phones.
Vannin Ventures Managing Director Tom Meageen said: "Through clinical trials in the Isle of Man over the last 18 months, we have shown that the technology can have a transformative effect in improving communication for those suffering from hearing loss. There is also a significant global market into which the technology can be extended."
Goshawk CEO Matthew Turner will relocate from the UK to establish the Manx-registered firm.