All of IT Solutions’ staff left the firm before its parent, insurance giant
Aquilo, placed the reseller into administration in August.
Several former members of IT Solutions’ staff went to Galtec, while others headed off to local resellers such as Mercatum or launched channel outfits, including Innovations in Technology.
Mark Adams, managing director at Galtec, which forecasts 2008 revenues of £8m, told CRN: “Five or six fragments were created from the embers, which is why we are only forecasting a small return. We have done a revenue-based deal where the more IT Solutions takes, the more we pay. If we take £1m in turnover, we will pay £100,000.”
Tim Kent, managing director of Innovations in Technology, which offers audio visual and digital signage consultancy to other resellers, said: “I was working for other people for 10 years and this has been the kick I needed to push me into starting my own company.”
IT Solutions in administration
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