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07 Aug 2006
IP telephony vendor Zultys has claimed it is business at usual for its UK partners, despite channel concerns over its financial stability.
Ian Milnes, president of Zultys, told CRN that the vendor had been seeking additional capital funding, but a deal to secure this fell through in the final stages. He confirmed jobs had been lost as a result.
“After missing out on the funding, we had to make a reduction in our workforce, which mainly affected our US office,” Milnes said. “We are at a reduced size, but still building and shipping products.
“Now we have scaled back we are profitable, and the urgency for funding is not so great. We have time to find the right investment partner for a smaller round of funding.”
However, Alex Waterman, managing director of Zultys’s recent distributor signing and new market entry Datafonix, said: “Communication from Zultys has been weak. The message we have given to our partners is to wait and see what happens.”
Waterman added that Datafonix has put all Zultys orders on hold and is pushing its other vendor offerings while the situation unfolds.
Grahame Smee, managing director of Zultys distributor equIP, said: “It’s business as usual at the moment. Zultys lost some people and has a funding problem, but we are carrying on.”
David Thompson, managing director of Zultys distributor Siracom, said: “Our relationship [with Zultys] is continuing and we have been reassured [by the company]. It is less of a drama than it seems.”
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