Madge Networks goes titsup, flips up as Madge Ltd
PrintToken Ring's last stand
Posted in Channel, 23rd May 2003 12:08 GMT
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Madge Networks N.V., almost the last man standing in the Token Ring market, has gone bust in the Netherlands.
An administrator appointed by the Dutch courts in April 17 was yesterday granted a bankruptcy order in Holland, in a process similar to that of a Chapter 7 bankruptcy under US law.
Madge's operating business has been reconstituted in UK as Madge Limited, which will, we assume, set it free from the burden of debts that forced Madge Networks N.V. into the hands of administrators.
Long gone are the days when the personal stak in the company held by charismatic founder and former chairman, Robert Madge earned him a place in the Sunday Times Rich List. The inexorable rise of Ethernet means that Token Ring, even though technically superior, became the Betamax of the networking world.
Token Ring still has a sizeable installed base but major investments in the technology are as rare as hen's teeth. This, along with an unsuccessful foray into the streaming media market, lies behind Madge Networks' problems. ®
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