Voluntary administrators for embattled Australian software and IT services provider, Beacon Group, have put the business and its assets up for urgent sale.
Manfred Holzman of Holzman Associates was appointed to the Beacon Software Innovations and Beacon IT Australia entities on December 9.
The Sydney-based company is a specialist provider of budgeting and performance systems, software and professional services and has customers in the corporate, government and not-for-profit markets. Its annual turnover is estimated at $9 million. It also has leased offices in Canberra and Melbourne.
Customers include the Department of Finance and Deregulation, the Australian Nuclear Science and Technology Organisation and Department of Services Victoria. Beacon also has three key technology partners: Microsoft, Oracle and Infor.
Beacon CFO, Mark O’Neil, confirmed it was continuing to trade through administration but declined to shed further light on why administrators had been brought in. He also hinted several interested parties had already shown interest in the business.
In the meantime, Manfred Holzman said he was awaiting a company director’s report on why Beacon was forced to appoint administrators.
“We’ve only been in there a couple of days, so we’re trying to get a handle on the situation,” he said. “Hopefully something will come out of the woodwork – it’s a difficult time of the year.”
According to an advertisement placed in The Australian Financial Review, expressions of interest in Beacon IT and Beacon Software Innovations close on December 18.