Newborn telephony VAR Intellitalk has snapped up the assets and half of the employees of fallen reseller More IP Solutions.

Macclesfield-based More IP, which was spun off from telecoms provider Chess in a management buy out (MBO) in 2006, was officially liquidated by Shipleys LLP on 1 September after struggling with debt.

The Siemens partner had six staff, three of which are now employed by Intellitalk - a new telephony reseller that is a trading entity of VAR ITEC Holdings.

ITEC Holdings chairman John Teague said his firm has assumed all of More IP’s trade debt.

“We acquired the assets of More IP Solutions on 26 July before it went into liquidation. We just bought the assets. It was struggling a bit, like a lot of small companies, and had debts – but it had a nice customer base.”

More IP's former managing director Peter Moore – who led the MBO from Chess – is among those who will now work for ITEC.

“I have known Peter for 25 years. His business was not going the way he wanted and he needed a new challenge. We will support the contracts so customers will not be affected,” said Teague.

ITEC Holdings also owns a channel services arm, ITEC Intelligent Services. Teague set up Intellitalk earlier this year as a seperate trading entitity to help it target end user opportunities.