Teens Make Millions With Web Start-Up

Two Irish teenagers have sold their fledgling computer software venture to a Canadian company in a multi-million deal.

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.

"That's ball-park. We can't give the exact figure but that's close enough," Patrick (19) told RTE.

Auctomatic, set up last year in Limerick, 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.

The 19-year-old won Ireland's schools prestigious Scientist of the Year award in 2005 for developing a new programming language, Croma, which simplifies the way web applications can be built.

Patrick will now go to Vancouver to be director of engineering for Live Current Media and John, who is in fifth year at school, will remain at school.