Direct marketing and data group IPT (Interactive Prospect Targeting) has sold the majority of its UK operations for 1.3 million pounds to investment company Volvere Plc.
IPT Holdings Chief Executive Lionel Thain and Finance Director Eoin Ryan are to move to the buyer along with around 80 staff. IPT will continue with talks over the future of its remaining loss-making UK businesses including research agency Tpoll, and with plans to sell one of its French subsidiaries, Directinet and NP6.
Volvere CEO Jonathan Lander also runs a venture capital firm, Dawnay Day Lander (DDL) which provided capital for IPT in the year 2000.
Volvere, online at www.volvere.co.uk
, owns three other operating subsidiaries: Sira Test and Certification Ltd, Sira Environmental Ltd and Sira Defence and Security Ltd; and is chaired by Lord Kalms of Edgware, the President and Founder of DSG International plc (formerly Dixons Group plc).
IPT's troubles became apparent last year
when it encountered technology problems in its UK operations and a pre-tax loss of £966,000 for the year to 31 December 2007., compared with a profit of about £3.39m the previous year. it confirmed last month
that it was trying to sell off its UK business, including research agencies Tpoll and Integra Insight, and remains 'in active discussions with its bank regarding its indebtedness position'.
Web site: www.ipt-ltd.co.uk