Shareholders in Ivron Systems, the Irish developer of videoconferencing systems, will share almost $23 million (€26 million) if profit targets are met over the next three years, as part of the terms of its sale to US group Gentner Communications.

Ivron was formed just four years ago as an offshoot of Irish software group Mentec International and both Mentec and its founder chairman, Mr Michael Peirce, have sizeable shareholdings in Ivron. The other major shareholders are Trinity Venture Capital and Mr Gilbert Little, the founder of Apion and Aldiscon.