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NET IMERATIVE IN ELEVENTH-HOUR RESCUE BID

News, 30 May 2000


The imminent demise of online business information specialist Net Imperative [WAMN, 23/5/00] was averted at the eleventh hour by a rescue offer from a three-member consortium.

The triumvirate includes Bright Station, formerly known as Dialog Corporation, which has itself recently seen cash-strapped times. The other consortium members are Aim-listed Internet Business Group and international financial data specialist StockHouse Media Corporation. Between them they have raised £1m to create a takeover vehicle, Heltward, which is to acquire Net Imperative’s business and assets.

The move saves all thirty-seven jobs at Net Imperative.

News source: Sunday Business (UK)