Tao Group throws in the towel
Software firm 'in administration'
Entertainment software platform maker Tao Group Ltd went into administration on 31 May it has emerged.
According to sources, the Reading-based firm's IP portfolio was sold in a private auction last week to venture capitalists Cross Atlantic Capital Partners.
Companies House currently lists the status of Tao Group Ltd, which operates out of Suttons Business Park in Reading, Berkshire, as "in administration".
David Rubin and Partners confirmed it is handling the administration but told The Reg that it was unable to comment on any details surrounding Tao's current position until investigations were complete.
Cross Atlantic Partners also declined to comment.
The Tao Group created and globally patented intent, an entertainment software platform for mobile and embedded consumer electronics devices.
Earlier this year, it launched a location-based gaming module after adding GSM support to its intent GamePlayer range. ®