Iontas
07
Feb, 2010
It’s not all doom and gloom out there – and certainly not for a group of entrepreneurs who have just sold their Letterkenny-based technology start-up for $20m.
Iontas, a firm specialising in business process systems, has been sold to US company Vermint Systems, according to The Sunday Business Post. The deal comprises a cash payment of $14.8m and the remainder in earn-outs for the key personnel in the company over the next two years.
The Iontas founders and management will net more than €6m for the 30% stake they retain in the company. They include chairman and chief executive Joe Stockton and chief technical officer Martin McCreesh.
Popular Articles
Response to Dept of Finance consultation paper on Contractors
The Departments of Finance and Social Protection issued a Consultation paper …
€90 Million Microfinance Scheme Open For Business
Have you been refused credit by the banks for loans of up to €250,000? The Mi…
AIB’s Big Drive for Small Business… Giving Credit or Paying LipService
AIB has launched a programme of supports aimed at helping startup businesses …