Technology Investment & Underwriting (TIU), which advises Irish technology companies, has introduced the Irish Technology share index. The index is designed to act as a guide to the investment performance of quoted Irish technology companies and is being run in conjunction with Irish Computer magazine.

To qualify for the index, a company must be of Irish origin, involved in the information technology industry, have its headquarters or a significant base in Ireland and employ a significant proportion of its workforce in Ireland. The index currently comprises 10 indigenous Irish companies: Baltimore Technologies, BCO, CBT, Esat, Iona, ITG, Rapid Technology Group, Saville Systems, Stentor and SupaRule. Saville Systems is currently in the process of being taken over by US software group ADC Telecommunications. Once floated, it is planned to add Trintech.

ITSI "will certainly act as a vehicle for measuring and promoting the success of Irish Technology," said Mr Garrett Hickey, chief executive of TIU. Index developments will be published weekly on the Internet and monthly in Irish Computer.