Former CEO of Altobridge welcomes buyout of company following receivership

altobridge The former Chief Executive of Altobrige is welcoming news that the Tralee based technology company has been bought out of receivership by iDirect. 45 jobs were lost at Altobridge when it ceased trading on June 3rd and it’s believed that a number of positions may be reinstated as a result of the buyout. Speaking to Radio Kerry News, former CEO Mike Fitzgerald said he welcomed the news but that the board is not privy to the receivership process. Radio Kerry news understands that there is a possibility that some of the positions within the company may be reinstated. Altobridge was one of the first companies to offer mobile phone coverage on commercial flights, ocean liners and on remote oil rigs. The mobile phone technology company – which has offices in Tralee, Malaysia, North America and China, employed a total of 130 staff internationally. Among the company’s assets listed for sale when it ceased trading in June were patents and well developed technologies in over 30 countries, and experienced developers, engineers, sales and support staff. The Sunday Business Post is reporting that iDirect, an international satellite communications firm has bought the company out of receivership. iDirect, is owned by ST Engineering, an $11 billion Asian defence and engineering conglomerate.