Monday, 17 November 2008

Exits Option 4 - Vividas appoints administrators

(By Richard Holway) In my post entitled Exits on last Thursday I mused (ahead of my appearance at the Growth & Strategies for Software and IT Companies Conference tomorrow Tuesday 18th Nov) that there are four major ways you can make an exit:-

1 - you can IPO
2 - you can get bought in a trade sale
3 - you can do a deal with a Private Equity firm
4 - you can go broke.

I then went onto remark that I hadn't so far seen a publicly quoted UK SITS company fail in the this current downturn.

I spoke too soon. On Friday afternoon, Vividas, "the AIM quoted streaming software technology business", issued the following sad RNS statement

"Although the directors have sought further financing to allow the Company to continue trading, such financing has not been forthcoming. Therefore, the board regret to announce that they will be appointing administrators to effect an orderly wind up of the business".

I suspect similar words will be used on RNS announcements on more occasions in the year to come. Sad for all concerned.

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