Feeds

Titsup Madge.Web staff to be saved

'It's not a dotcom venture with no revenue'

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

The fate of Madge.Web and its staff looks set to be sealed by the end of next week.

Receivers Price Waterhouse Coopers expects to name a preferred bidder for the UK company next week. It also hopes to save all 170 British jobs at the Web hosting company, which fell into administration last month.

A PwC representative said today there were "quite a few interested parties" vying to buy the outfit, adding that these were currently being narrowed down into preferred bidder status.

She said PwC expected to name a preferred bidder by the end of next week.

"The company has real assets. It is not to be confused with a dotcom venture with no revenue stream," said the representative.

"We expect and hope to save jobs. And the way things are going at the moment, there is every possibility of that."

Madge.Web was previously owned by Madge Networks, which poured more than £100 million into the UK business and its five sister companies worldwide. ®

Related Stories

Madge.Web goes titsup.com

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.