Feeds

Picsel administrators sell assets to former managers

Hamsard takes on 50 workers

The Essential Guide to IT Transformation

Former managers of Picsel Technologies Ltd have stepped in to buy up the assets of the defunct software development company, including the patent portfolio and the 50 remaining employees.

Glasgow-based Picsel went into administration in July, when PricewaterhouseCoopers was appointed as administrator and set out to find a buyer for the company. At that time 35 staff got laid off.

But the 50 who remain will now transfer to a company called Hamsard Limited which has been set up by former members of the Picsel management team, PWC said in a statement.

Companies House does not list a Hamsard Limited so we can't tell you which members of the former Picsel management are involved.

We have been told that as part of the deal those 50 employees will receive the wage arrears owed to them. There's no word about ex-employees owed money by Picsel, or of the seven employees who saw the company at various employment tribunals over the last few months.

PWC said the deal have been achieved with funding support of two major creditors of Picsel.

We look forward to reporting on developments at Hamsard, and hopefully filling in a few of those blanks, soon. ®

Boost IT visibility and business value

More from The Register

next story
Scotland's BIG question: Will independence cost me my broadband?
They can take our lives, but they'll never take our SPECTRUM
iWallet: No BONKING PLEASE, we're Apple
BLE-ding iPhones, not NFC bonkers, will drive trend - marketeers
Trying to sell your house? It'd better have KILLER mobile coverage
More NB than transport links to next-gen buyers - study
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
NBN Co adds apartments to FTTP rollout
Commercial trial locations to go live in September
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.