Netsys forced to wind up operations
- 13 December, 2000 11:32
Netsys Australia has bitten the dust, 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 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 AB "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 and 65 cents in the dollar", according to liquidator Max Prentice.
According to the liquidator's statement, the former general manager of Netsys Australia, Peter Hicks, has destroyed surplus stock.
"The distribution and maintenance rights reverted to Netsys Software Group AB, which has transferred them to another Swedish firm, Technology Nexus AB," the statement said. "Technology Nexus will continue to provide service to Australian clients, who have been advised of the transition."