The joint venture with British Telecom will close July 31. There are around 700 core customers and 1,000 Internet-only customers. Vio employed 58 people. Who is next? Karat 74?
Vio Worldwide, the online file transport and workflow vendor backed by British Telecom and Scitex, will cease operations by the end of the third quarter. The news comes after Vio’s management failed to find a viable plan for a management buyout, which was being explored after Scitex announced it would end its investment in the struggling vendor nearly six weeks ago. In a statement, Vio said that despite significant cost cutting, the company had yet to achieve profitability and was unlikely to achieve profitability in the near future, even if the prices for its services were raised. Vio’s attempts to find additional funding failed. Customers have been informed of the shareholders’ intentions. Vio’s management team is helping customers transition to unnamed alternative services, probably by providing access to Vio’s server farms through a third-party organization. Core services will close June 30 and Internet-only services will close July 31. There are around 700 core customers and 1,000 Internet-only customers, primarily in the newspaper and publishing sectors. Vio employs 58 people worldwide.
