News
Israeli court appoints team to manage troubled Press-sense
An Israeli court has appointed an adviser to manage business software company Press-sense as two of its major investors pull the plug on their support.
The court appointed Paz Rimer, of law firm Rimer, Arnon and Co, to put together a management team to run the company. It includes Press-sense chief executive Amir Shaked who has been in the role less than a month.
The court involvement followed investment lending group Plenus, which loaned Press-sense $5m (£3.3m) in 2008, filing a petition to the court.
The team, along with Plenus and Rimer, will run the business as a going concern while it consider Press-sense's options, however, it said that discussions had already taken place with a number of interested parties.
In the meantime, the business will also rationalise its headcount and expenses in line with its forecast revenues and costs.
Numerous companies sell OEM versions of Press-sense products, such as Xerox, HP and Océ. Press-sense said it will continue to support customers, channels and partners through the transition.
Calls to Rimer and Shaked were not answered at the time of writing.
Comments
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Kelvin Bell - 09 March 2010
Tough news about a good company that has simply over extended itself in a troubled financial time.
If anyone is experiencing disrupted service as a result of this, drop us a line and we will do what we can to ensure business continuity. Not being a vulture here, but rather offering a service as others should not suffer for business decisions taking place in Israel! If we can we will waver any associated costs.
Kelv
vpress.co.uk
Louise Joylee - 10 March 2010
Sounds great Kelvin Bell, we have been looking for someone over here to help us and have been experiencing problems using Press Sense so will be in touch for you to have a look at our requirements.
Didnt even know a company specialising in this sort of software existed in this country.
Thanks
Lou x
Chris Hopwood - 10 March 2010
I'd like to echo Kelvin's sentiments, and have no hesitation in making the same offer.
Chris Hopwood
www.marketingunity.com
Alan Dixon - 15 March 2010
Going by industry trends I would not be surprised if one of the existing partners \(Xerox or HP) will make an acquisition to enable continuity for their marketplace. But It will also come as no shock if the other major player then discontinues their relationship with the newly owned Press-Sense.
This is obviously a business critical application though, and could have a dramatic impact on your business. However it has to be said that Press-Sense is continuing to trade but I think we all know the likely conclusion for the company.
There is therefore going to be a period of uncertainty so now is a good time to review what you actually require of a web front end to your system. What features do you need today and consider what will be vital in the future.
With a myriad of solutions available in today's market that claim to offer similar features and benefits to Press-Sense you may need some assistance in finding the best solution for you.
Prepare for the future but don't rush into making the wrong decision, as there are also some newer technologies about to hit the market in advance of IPEX.
Chris Wallans - 15 March 2010
Just wanted to throw our hat into the ring for Press-Sense customers looking for a B2B or B2C centric web to print solution. We have offices in Europe and in North America. I actually used to be an iWay trainer and an early \(v 1.0) Beta site.
Chris Wallans - 15 March 2010
www.amazingprint.com
gareth dunsmore - 18 March 2010
Although I don't know Kelvin Bell personally, My company use's Vpress and it is fantastic.
We are delighted with it and the support it fantastic for the team. Highly recommend it if you have been left high and dry. G
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