ICC Bank has invested £5 million in Dublin based computer software company, Aldiscon. The funds will be used to finance further growth of the company, particularly in the US and Asia Pacific, it said yesterday.

Aldiscon develops software products for mobile phone networks worldwide and employs 220 people. Following the investment, ICC Bank has a shareholding of 14.3 per cent while Forbairt holds 8.8 per cent of the company.