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16 Mar 2009
After weeks of speculation, IBM partner Triangle Computer Services has finally gone into administration.
Baker Tilley was appointed as administrator for the Minstead-based reseller and ISV on Friday, bringing to a close weeks of channel hearsay and gossip.
The firm, which is one of IBM’s most prominent UK Business partners, had about 100 staff and banked revenues of £24m in its last financial year on record.
Further reading
Local press reports suggest Triangle is keen to salvage parts of the business, including its Retail Manager ISV arm.
But Nitin Joshi, founder of channel advisory service ChannelMoney, said the fact the episode had dragged on for so many weeks may have “evaporated” any potential value in Triangle’s business.
“Following the unrelenting speculation, the demise will not surprise anyone,” he added.
Joshi also said Triangle’s collapse could be a sign of things to come.
“We are experiencing a large number of calls from distressed dealers. In most cases, asset values are dire and pipelines dry. It is a good time for buyers and consolidators,” he said.
CRN contacted Triangle but the firm said it would not be ready to shed any light on its plans until tomorrow. Baker Tilley had no further comment.
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