It has raised close to $125 million from investors and was seen at one stage as a potential $1 billion business. Now, after coming close to running out of cash earlier this year, Irish software firm Swrve has received an approach to take a stake in the business that values it at just $5 million. The deal, which is expected to close mid-October, will secure the future of the company. But it will also see existing investors – many of which are funds backed by the Irish state – crammed down unless they put more money into a company that,…

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