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.
Have your say in the Printweek Poll
Related stories
Latest comments
"Sad to see another print company facing financial trouble. The industry is tough, and this highlights the ongoing challenges many are facing. Hope employees and customers get clarity soon."
"Not surprised, businesses need to prepare for these attacks rather than thinking that they're going to avoid them. At the very least, data needs to be fully protected with air gaps in place..."
"So much for growth then!"
Up next...
Six months after Charlesworth deal
TJ Books looks to appoint admins
Current timeframes are insufficient
Election print and postal pressures highlighted in AEA report
"Significant milestone"
Riso celebrates 20 years of inkjet
Strengthens existing product portfolio