Wireless broadband specialist Wavelength Solutions Ltd (WSL) has left administrative receivership after a management buy-out (MBO) funded by Global Emerging Markets (GEM) Group.
WSL's management and venture capital firm GEM acquired the business and assets from Scipher plc on 9 October. Scipher entered administrative receivership on 27 September, followed by WSL on 6 October.
"This doesn't affect our relationship with WSL," said Mark Eley, engineering manager at Wavelength reseller Switchnet Systems.
"My WSL account manager has kept us up to date with developments. With the new funding, things should move more quickly in terms of new technologies."
GEM has, in the past, invested in reseller Peapod and Defcom Information Security.
A source at WSL told CRN that "no job losses had occurred as a result of the MBO".
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