According to Siliconrepublic.com, an Irish software company located in Cork, TeamworkPM just bought the domain name Teamwork.com for $675,000.

According to domaintools.com is appears the domain name was actually sold last year by domain investor Alexander Lerman to the software company.

Alexander acquired the domain name back in 1999.

The software company which bought the domain has 20,000 customers in 147 countries includingeBay, Microsoft, Oxfam, Forbes, PayPal, Electronic Arts and NBC.

The company says sales are set to exceed US$12m by the end of 2015.

The story goes on to say that “Negotiations took over two years”

CEO Peter Coppinger is quoted in the story as saying:

“We are 100% confident that the investment will pay for itself in no time as we expand our product range and improve marketing under the new brand,”

“He said that the company aims to use the new domain name to be a kind of marketplace for its software-as-a-service (SaaS) cloud-based business products, which include CRM, customer support and bookkeeping.”

Congrats to the buyer and seller.