Facebook deal lands €565k for UCC staff

“More than 160 University College Cork employees earned average payouts of €3,400 for contributions to a campus tech firm that sold to a Facebook subsidiary. The value of the 2016 purchase of spinout company InfiniLED by virtual technology company Oculus has also emerged as being well over €20m. UCC records show it got an initial payment of €1.659m for its 12.6% share in InfiniLED, which developed low-energy LED lighting at the university’s Tyndall National Institute research centre …” (more)

[Niall Murray, Irish Examiner, 16 March]

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