Die Welt

Two Irish teenagers have become multi-millionaires after selling their home-made Internet auction programme to a Canadian company.

Patrick and John Collison told broadcaster STA that they had sold auctomatic.com to Live Current Media.

The sale price is estimated at around 3.2 million Euros, and it is reported that the Collison brothers have to share their fortune with two British business partners. Their software simplifies on-line selling in a way similar to eBay.

Patrick (19) and John (17) founded their firm last year in Limerick.

Patrick is to start work at Live Current Media, having won a prize for up-and-coming inventors. John is set to finish his education in Ireland.