45 jobs have been lost at a Kerry technology company which has ceased trading. The mobile phone technology company Altobridge was placed into receivership on Friday.
Its staff in Tralee were let go this morning.
Receiver Jim Luby of McStay Luby chartered accountants has said 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.
It had received significant State investment as a start up.
It has offices in Tralee, Malaysia, Indonesia, North America and China. Local station Radio Kerry understands that all 130 staff will lose their jobs.
In 2011, the company had a turnover of US$16.1 million (€11.8m) and raised US$12 million (€8.8m) in investment from Intel and the World Bank.
The company is chaired by former Tánaiste Dick Spring and had Enterprise Ireland as an investor.
None of the management or board of Altobridge have commented on developments.
