Posted by jjwiseman at March 28, 2008 10:08 AM
DUBLIN (AFP) — Two Irish teenagers have sold their fledgling computer software venture to a Canadian company in a multi-million deal, they said on Thursday.
Brothers Patrick and John Collison sold their auctomatic.com to new media company Live Current Media, based in Vancouver. The sale price is thought to be in excess of 5 million dollars (3.2 million euros). "That's ball-park. We can't give the exact figure but that's close enough," Patrick, 19, told RTE state radio.
Auctomatic, set up last year in Limerick in the south-west of the country, involves commerce technology and tools that enable sellers easily to transact online through sites such as eBay.
Patrick and his 17-year-old brother have two British partners and the proceeds of the sale, which will be closed in May, will be shared amongst all the owners.