Hayes sells family silver to get out of trouble
Modem giant finds taker for European business
Hayes - the name synonymous with the PC modem industry - has found a way out of its financial troubles by carving up the remaining pieces of its product portfolio and selling them off.
The most notable result is that Zoom Telephonic - a company previously best known for its low cost modems - will step into Hayes' shoes in Europe. The results of the bidding contest for various sectors of the former Hayes empire have been quietly leaked out on the Hayes Internet site.
When Hayes plunged into its second bout of Chapter 11 protection from its creditors, it was well known that while the parent company ceased everyday operations - Hayes Europe was continuing on a day to day basis as a viable entity.
The announcement - which is expected to be formalised today - shows that Zoom won out against rival bids from a number of European companies.
Nabeel Mardi, a product marketing manager for Psion Dacom (a rival bidder), welcomed the news of Zoom's successful bid. He maintained that Zoom is well respected for its manufacturing expertise while the Hayes brand name is well respected among corporate users within Europe.
Mardi could not comment on the widely held view that Psion Dacom is a supplier of PC Card based products to Hayes Europe, but he was glad to see Hayes' operations continuing on a European basis. Out of the other successful bidders, notable wins come from Xircom which has gained access to the former Megaherts Xjack technology for PC modem cards and Modem Express which appears to have won the rights to the former Hayes Internet site. ®