HIT International Trading has emerged as the new purchaser of PaperExchanges technology after the collapse of the deal with electronic marketplace specialist eSpeed (PrintWeek, 1 June).
ESpeed, based in the US, emerged as a prospective buyer after the closure of PaperExchanges European operation in June with the loss of 17 jobs.
Germany-based HIT International Trading is one of Europes largest paper trading technologies, and will use PaperExchanges software to power its information technology partner US company PaperSpace.
Discussions between PaperExchange and eSpeed are understood to have broken down at the last minute after eSpeed stepped in with a lifeline for the dotcom site.
Have your say in the Printweek Poll
Related stories
Latest comments
"Thank you for the opportunity to comment on this Jo, and PrintWeek!
Please feel free to get in touch with the Howden Print Team to arrange your own Free of Charge Cyber Micro-Penetration Test to help..."
"I never quite understand the statements such as "achieved such a positive outcome for this well-established business".
The established business unfortunately failed and no longer exists, a..."
"Genuinely sorry to read this."
Up next...

Protocols being strengthened
Software Circle hit by suspected payment fraud

'Precision and reliability'
EBB sets up new publishing wing

Continued investment
Bakers ups BakPac capacity with double Galaxy Packtech install

"Committed to building a stronger Stora Enso"