Some 40 employees of Tralee-based Microcellular Systems are in for a windfall of around $10 million (€10.5 million) following the sale of the year-old company to Californian wireless technology company, Interwave Communications, for $15 million.

Employees will benefit three ways from the sale to Interwave. The value of their existing options has immediately trebled, they will also be issued with additional share options and every employee will receive a cash bonus equivalent to "several months' pay" at the end of the year for the next two years.