Technology group Cardbase Technologies has gone into examinership. The D·n Laoghaire-based company, which employs 130 people, provided smart card solutions for secure e-commerce transactions.

Mr Justice McCracken granted an appliction for the appointment of an examiner in the High Court yesterday. Accountant, Mr Jason Sheehy of BDO Simpson Xavier was appointed with effect from August 16th. He is due to report back to the High Court by September 5th.

In a statement, Mr Brian Kearney, Cardbase's chief executive, said examinership would "give us sufficient time to successfully resolve our funding requirement in a difficult technology environment".