Management Looking To Buy Out Imerge

Written by David Richards     23/06/2010 | 21:31 | Category: INDUSTRY

UK, Imerge executives are currently trying to negotiate an employee buyout of the Company according to Amber Technology executives attending this year's CEDIA Expo in Melbourne.

Management Looking To Buy Out Imerge
Brian Lee, marketing director of Amber Technology,  which distributes Imerge,  said that he believes the media server company will survive after rumours swept the show floor yesterday that the UK company is shutting up shop.

According to reports in CE Pro in the USA, Imerge is set to fold due to decisions taken by parent company, Nortek.

They claim that Imerge CEO Cameron Wade said in a letter to customers and partners last week: "It is with great regret that I must inform you today that, effective immediately, Imerge Ltd. is ceasing all business operations."

Brian Lee said: "My understanding is that Imerge executives are trying to raise the capital to do a company buyout".

Wade says the decision to close shop was made by parent company, Nortek, "as part of a larger restructuring of its Home Technology Group of companies."

One of the early pioneers of media servers, Imerge has been selling the SoundServer since early in 2000. The company added DVD management capabilities in 2008.

Among the companies managed by the Nortek Group is Omnimount who recently switched their distribution in Australia away from Convoy, SpeakerCraft, LiteTouch, Gefen, and Panamax, all products that are distributed by Amber Technology.

CE Pro claims that Imerge was not profitable when it was purchased in 2005 by Nortek.