LiteLogic UK Ltd In And Out Of Administration
LiteLogic confirmed early on Tuesday morning that they went into administration on 11th February BUT later that same day another spokesperson for LiteLogic told us that they were brought out of administration on Monday 16th Feb by (new owners) London based private equity investment business Intuition Capital
Poor old LiteLogic seem to be on the receiving end at the moment, when we wrote in January about all mentions of their Revolution 360 ’spinning LED’ product being removed from their web site in our post ‘Are Spinning LEDs Dead?‘ several of you wrote in with possible explanations:-
“Siemens, and Dynascan together own the worldwide patents on spinning LED screens. Siemens have the EU patent and Dynascan have the USA and ROW patent, and they have a heads of agreement not to sue each other”
It further emerged from our readers that “In November 2007 Dynascan claimed patent infringement against Litelogic in California for its Revolution 360 product … In May 2008, Litelogic countered and demanded a jury trial claiming no infringement”
Perhaps they lost? Either way they haven’t been particularly up front about the outcome.
Could it get much worse? Well no, probably not, unless of course your customers started pursuing you in the courts AND (blow me down with a feather, Ed) it appears that even leaderless StreetBroadcast are suing them, though neither party would comment with regard the exact reasons why.
Company Name:
LITELOGIC LIMITEDCompany No: 05804396
Registered Office:
Incorporated: 03/05/2006 1A STATION ROAD
HAMPTON WICK
KINGSTON UPON THAMES
KT1 4HGCompany Type: Private Limited
Legal Status: Administration Order
Report Status: Full Data
Accounts Type: Full Accounts
Latest Accounts to: 31/03/2007
Latest Return to: 03/05/2008
February 18th, 2009 at 21:28 @936
“though neither party would comment with regard the exact reasons why”
Could be the so-so level-of-service figures of their StreetLive product?
More here:
http://www.streetbroadcast.com/streetlive/live.php
March 2nd, 2009 at 15:30 @688
With reference to the below statement:
“In November 2007 Dynascan claimed patent infringement against Litelogic in California for its Revolution 360 product … In May 2008, Litelogic countered and demanded a jury trial claiming no infringement”
This is still potential ongoing and both companies are in direct dialogue to resolve it out of court and the legal side of things has been parked for the time being. We have no other litigation ongoing from any other parties, streetbroadcast or otherwise.
The company is currently focusing on the Bus led market which is very strong despite the world economic situtation and we are still rolling out screens in Chicago and New York with Titan in the US.
For us administration was a chance to tidy things up and properly focus on profitable projects.