back to article Outsourcery: We've had offers for our assets (and, er, shareholders might get nothing)

Investors in beleaguered cloud biz Outsourcery may well take a bath after the company confirmed it is in talks with suitors who made offers for its assets that will leave them little or no return. The Manchester-based biz, set up by former Dragon Den's luvvie Piers Linney, revealed in April it was again running out of cash and …

  1. Bob Vistakin
    Facepalm

    I'm out

    With nowt.

  2. Anonymous Coward
    Anonymous Coward

    The company board said it was continuing to "carefully evaluate" the offers as well as other options to "strengthen the immediate and long-term financial position."

    Making sure their own pension pot gets larger whilst the sale goes through, it's "we're alright Jack but the investors wont get anything"

    1. Anonymous Coward
      Anonymous Coward

      Making sure their own pension pot gets larger whilst the sale goes through, it's "we're alright Jack but the investors wont get anything"

      I've been through an AIM-listed tech meltdown, and I can authoritatively confirm your view is correct. As the bucking bronco lurches about, any director lucky enough to hang on will get signed up for a six figure "retention bonus" to see the sale through. Or seven figures if they're really lucky. Meanwhile the proles are axed with indecent haste.

      Why would this be so? Well usually because the senior lenders (normally the banks, although in this case it looks like the knob ends of Toadafone) want to protect their interests, if necessary, and sometimes intentionally at the expense of the equity shareholders. And to flog the beleaguered company to the next mark, it helps if the handful of people who know where the bodies are buried are working for the seller, in order to keep the shallow graves secret.

  3. AbstPoolAuto

    I still dont understand...

    Why anyone thought this was a viable business model - selling Microsoft Cloud based services and competing directly with Azure with all the engineering & scale that has behind it.

    I suspect any privacy advantage was killed when Microsoft announced a UK based datacentre.

  4. tin 2

    Piers Linney's (current) Wikipedia entry appears to have been edited by el Reg.

  5. atebbs
    Stop

    Hosted Skype for Business

    We've been trying to reach out to see if we can help Outsourcery with this situation and help their customers who have signed up their Hosted Unified Communications platform based on Skype for Business. We launched VIA 4 years ago, helping over 250 customers in 20 countries worldwide to migrate to Skype for Business in the cloud and replace their onsite telephone systems. We are privately owned, privately funded and profitable. I believe we can help Outsourcery by reducing it’s overheads and more importantly, their beleaguered customers, by ensuring a critical service, such as their telephone system continues to be operational.

    www.joinvia.com

    1. Naselus

      Re: Hosted Skype for Business

      The vultures are clearly circling.

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