Internet of things business faces closure

IT firm Wireless Things could close after its owner, 365Agile said the company was no longer “core to the group’s future plans”.

Wireless Things was bought by 365Agile in February 2015. Formerly Ciseco the firm, which is based in Nottingham’s CleanTech centre, was regarded as one of the leading ‘internet of things’ manufacturers in Europe.

Wireless Things’ technology now has over 50 million hours of run time in the field and has been used in projects as wide ranging as Microsoft, Zoological Society of London, Terex and UK based Housing Associations and Universities.

A statement from Sutton Coldfield-based 365Agile said: “A provisional decision has been taken to close the Nottingham operations and a consultation period has commenced with the staff.

“The company continues to own the IP to the 365Agile suite of software solutions, however, should the consultation process result in the closure of the Nottingham office and employee redundancies, 365Agile will become an AIM Rule 15 cash shell funded by the ongoing payments it receives from the Licence Agreement.

“A further announcement will be made upon completion of the consultation process.”