A new owner for Vio has secured the survival of the firm at the eleventh hour.


Citizen, headed-up by ex-Trinity Mirror managers Richard Horwood, Jonathan Cape and David Jones, has bought all of Vios operations and secured funding for its continuing operations.


Vio managing director Miranda Clegg (pictured) remains in that role and has also become sales and marketing director of Citizen.


Citizen has partnerships with Acquire Media and AssetHouse Technology that give Vio access to technology to deliver its services over the internet at a lower cost than before.


Vio has also moved to a new pricing structure based on a quarterly charge that depends on the volume of traffic sent through its server, but independent of the cost of supplying phone lines.


Clegg described the deal as everything Ive been looking for.


She was unable to reveal the amount of funding involved or which of Vios customers have signed up with the new firm.


Story by Barney Cox