Adtech Global Solutions has acquired the IP assets of Steelbox Networks under an Article 9 UCC Foreclosure sale.
According to an AdTech press release the deal "provides AGS with industry leading technology poised to address the needs of one of the fastest growing vertical markets ... the combined entity will now be able to offer comprehensive, industry leading, end-to-end solutions."
(What vertical market is the release referring to? That'll be one of my first questions. According to AdTech, Steelbox has more than 50,000 systems deployed and hundreds of installations in Fortune 500, mission-critical infrastructure environments. Maybe that is it even though it is only mentioned at the bottom of the press release.)
As you may have read, creditors of Steelbox Networks received notice Nov. 11 that Square 1 Bank had foreclosed on the video-switching technology manufacturer and that all employees have been let go and all operations ceased.
Adtech, though, has retained "key Steelbox personnel, including founders and inventors of the technology, Jim Jordan and Bill LeBlanc."
I'm not familiar with AdTech. They say there are a worldwide service organization focused on the development of computer technology solutions to power applications. I'm hope to have some clarity after I speak with the company sometime next week.