IT company confirms closure of East Midlands operation
SUTTON Coldfield technology firm 365Agile has confirmed it will close its Nottingham operation with the loss of a number of jobs.
The company had said on Monday (August 22) that it intended to close Wireless Things as it was no longer core to the group’s future plans and that staff would be consulted on redundancy.
In an update to the markets today, 365Agile said: “Further to the announcement dated August 22, 2016, following the completion of the consultation, the board has decided to close the Nottingham operations and staff have been given formal notice of termination of employment.
“The company continues to own the IP (intellectual property) to the 365Agile suite of software solutions and will continue to receive the payments due from its licence agreement with Castleton Technology.
“The company is now deemed to be an AIM Rule 15 cash shell and has six months to make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules or otherwise seek readmission as an investing company with the attendant requirement to raise at least £6m million on or immediately before such readmission.”
Wireless Things was bought by Agile 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.
