45 jobs go at Kerry technology company

45 jobs have been lost at Kerry technology company Altobridge which has ceased trading.

The mobile phone technology company was placed into receivership on Friday and its staff in Tralee were let go this morning.

Receiver Jim Luby of McStay Luby chartered accountants has told Radio Kerry that he is endeavouring to find a buyer for all or multiple buyers for individual parts of the company in a process that should last couple of weeks.

Altobridge was set up in 2002 by Mike Fitzgerald, Guy Waugh and Bart Keane and was one of the successes stories of the Kerry Technology Park after it received a significant state investment as a start-up.

It has offices in Tralee, Malaysia, Indonesia, North America and China. It is understood that all 130 staff will lose their jobs.

In 2011 the company had a turnover of $16.1m (€11.82m) and raised 12m (€8.81m) in investment from Intel and the World Bank.

The company is chaired by former Tánaiste Dick Spring and Enterprise Ireland was an investor.

None of the management or board of Altobridge have commented on developments

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