Equiinet rescued by former owner


Equiinet rescued by former owner

Industry veteran Bob Jones has repurchased his networking company Equiinet, saving it from the clutches of the receiver.

Jones bought Equiinet, the Swindon-based UK Internet server appliance specialist, back from Dica Technologies, which collapsed into administrative receivership on 4 May.

He had sold it to German-based Dica in August in a share swap for an undisclosed sum. But after Dica's collapse, Jones, who sat on Dica's supervisory body, decided it was time to step in and buy his former company from the receivers and signed the deal on 9 May.

"The only bad thing about the situation is that I've had to pay for the company twice over," Jones said, but he claimed the company was worth it. "Internet server appliances are hot and Equiinet has a proven product with more than 10,000 units installed in the fields.

"It's up to me now to get things together, but we are all very optimistic," he added.
Jones revealed Dica had planned to float on the Frankfurt stock market, but failed to do so and ran out of money.

He admitted it had been a "dire" few months for Equiinet and its employees, but things were looking brighter. "It's a great relief to have it back," Jones said, adding that the company was currently undergoing restructuring, but the move had saved the jobs of 30 employees.

Boyd Webb

Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy