HIT International Trading has emerged as the new purchaser of PaperExchanges technology after the collapse of the deal with electronic marketplace specialist eSpeed (PrintWeek, 1 June).


ESpeed, based in the US, emerged as a prospective buyer after the closure of PaperExchanges European operation in June with the loss of 17 jobs.


Germany-based HIT International Trading is one of Europes largest paper trading technologies, and will use PaperExchanges software to power its information technology partner US company PaperSpace.
Discussions between PaperExchange and eSpeed are understood to have broken down at the last minute after eSpeed stepped in with a lifeline for the dotcom site.