Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
ReSolve has announced it has completed sale of the intellectual property assets of Omnico Group UK Ltd (Omnico), which provides proprietary customer engagement technology, to a UK and US-based trade buyer.
Omnico’s profitability was “severely” affected by the Covid-19 lockdowns, which forced the closure of visitor attractions, casinos and retail outlets, some of the “key” sectors in which the company’s technology was utilised.
Directors at Omnico unsuccessfully engaged one of the Big Four advisers to market the company for sale as financial losses continued. ReSolve was then approached regarding liquidation and Cameron Gunn and Lee Manning of ReSolve were appointed joint liquidators on 22 June 2022.
ReSolve said that with Omnico’s cash running out, the liquidation needed to be completed in a short timeframe. ReSolve’s practitioners achieved the liquidation and enabled the subsequent sale by the 30 June deadline.
Meanwhile, the purchasers are seeking to further develop Omnico’s technology before relaunching to customers.
Lee Manning, partner at ReSolve, said: “The completion of this project against a very tight deadline demonstrates one of the qualities of which ReSolve is most proud: our ability to act quickly, agilely and flexibly.
“We knew that our client needed to meet the deadline in order to preserve the value of the assets and so we brought in the necessary resources to do the job to the very highest standard. We are delighted to have achieved this sale, and to have preserved the optimal valuation for Omnico’s Intellectual Property assets.”
Omnico was formed from a merger of two groups – Digipos and Clarity Commerce. The company has a number of long-standing contracts with customers such as Sodexo, the National Trust and Co-Op Denmark.
