ONE MORE THING: AMID THE meltdown in global stock markets this week, there was at least some positive news from corporate Ireland.

On Monday, Jacob Fruitfield was acquired by Irish food company Valeo, earning its shareholders a €30 million-plus windfall and a 26 per cent stake in the enlarged business.

The deal looks sensible on paper and could be the first of many as the food sector here consolidates.

On the same day, Data Electronics, a company with a low profile in this market, was sold to Telecity for €100 million cash, making millionaires out of its owners. Telecity was described by one analyst as “recession proof”.

In north Dublin, shareholders of Greencore gave its management team the green light to pursue it acquisition of British food business Uniq.

It’s an important deal for Patrick Coveney, who was jilted at the altar earlier this year by Northern Foods.

It’s just a shame that Coveney is determined to move its primary stock market listing to London.

With DCC planning a similar move, it’s a body blow to an already beleaguered Irish Stock Exchange and one in the eye for domestic institutions who have supported these businesses over the years.

In the case of Greencore, that support has come without much return.

Presumably, both companies will want to retain our generous 12.5 per cent tax rate.

Still, the events of Monday show that there is some life in the Irish market.

The common thread is that these businesses have an international dimension of some sort.

For the economy to turn around, the government will have to breathe some life into the domestic services sector.