Feeds

Reanimated Picsel lays off staff, plots with Samsung

Patents mortaged in mystery deal

Beginner's guide to SSL certificates

Picsel, developers of innovative mobile rendering software, is back from the dead with the same management, but many fewer employees and financial backing from Samsung.

The original managers bought the company from the administrators, PriceWaterhouseCoopers, along with the patents held by the company that represent the real assets. But since then they have put half the staff under notice of redundancy and entered into complicated deals with Samsung using company patents as security against future developments.

We understand that 29 of the 50 staff who survived the administration process have been put under notice of redundancy, but at least those staff received the back-wages owed to them. Ex-employees still owed redundancy have been forced to join the queue of creditors left behind when Picsel ceased to exist.

Not that Picsel isn't still around, the new company rapidly changed its name to "Picsel UK Limited", not to be confused with "Picsel Trustees Limited", which is also active. Unlike "Picsel Technologies Limited", which became "Picsel (Research) Limited" and is in administration, along with "Picsel (IP) Limited", formerly "Picsel Technologies Limited" and before that "Picsel Research Limited". And if that's not confusing enough, there's "Picsel Holdings Limited", formally "Picsel (Holdings) Limited" to consider, before we even start on the Guernsey-registered companies and "Picsel (Malta)".

The latter is of particular interest given the way it is named in an agreement between Picsel UK Limited and Samsung, regarding the use of Picsel (Malta)'s patents as security against the deal between them. The particulars of that deal aren't public, but presumably include development of a new version of Picsel's file-viewing software for Samsung in exchange for the funds needed to continue running the company.

Not that there is much of a company left: despite the management hanging on, the remaining staff are understandably nervous working for a company that has almost as many names as employees.

It is an ignominious fate for a company that created a great technology and won awards but comprehensively failed to upsell to existing customers. It remains to be seen whether the deal with Samsung will be enough to save the Scottish firm. ®

The next step in data security

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
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
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.