Power line firm nSine goes into liquidationSteve BushReading-based power line communications company nSine has gone into liquidation with the loss of 20 jobs.
All the company's assets, including intellectual property, were sold after company directors decided to wind-up nSine on September 23.
"We immediately marketed the assets as there is only a small window of opportunity to sell such intellectual property. I am delighted to confirm that we negotiated a sale of the intellectual property and certain other assets during October to a newly formed company, e300 Ltd," said joint liquidator, Cedric Clapp of accountants Baker Tilly in Bristol.
No details about e300 were available as Electronics Weekly went to press.
In September 2001 nSine attempted to raise £14m in equity finance. "Serious interest was generated but it came at a time when the appetite for such investment in new technology was low," said Clapp.