Yet another Australian distributor has bitten the dust as Netsys Australia winds up its operations following a court judgement against its Swedish parent company.
Netsys Australia, formerly known as Verimation and then Netsys Technology, was registered in 1998 and distributed e-business software from Sweden's Netsys Software Group. It mainly dealt direct with large corporates and government agencies, but it also partnered with and resold through high-end integrators on some projects.
Products it sold and supported included MEMO, VCOM, WebWare and Intercope, and its customer list encompassed organisations such as the National Australia Bank, MLC, Royal Sun Alliance, Amcor, NSW Police, Qantas, Ansett, Cathay Pacific, Malaysian Airlines and Queensland Rail.
According to a press statement from the liquidation firm Prentice Parbery Barilla, Netsys Software Group "was placed in receivership following an adverse court judgment for the infringement of intellectual property rights of another software developer".
Creditors are expected to receive "between 53 cents and 65 cents in the dollar", according to liquidator Max Prentice.
According to the liquidator's statement, former general manager of Netsys Australia Peter Hicks has destroyed surplus stock.
"The distribution and maintenance rights reverted to Netsys Software Group which has transferred them to another Swedish firm, Technology Nexus, the statement said. "Technology Nexus will continue to provide service to the Australian clients, who have been advised of the transition."