Wednesday, June 30, 2010

BPN 1422 iRex Technologies bancrupt

Earlier this month the Dutch e-reader developer and manufacturer iRex Technologies requested for protection under chapter 11. Since 29 June the company has gone in receivership with a debt of 10 million euro. Martijn Kemps, the lawyer treating the bancruptcyexpectes that iRex will be able to make a new start as many parties have shown interest in the IPR and operational knowledge of the company.

iRex Technologies has been a pioneer in the digital page display technology. It started out as a Philips company which brought the e-Ink display technology from the laboratory to the factory. While e-Ink had debvveloped the principle of the digital page technology, iRex Technologies used the substrate technology of Philips to make a workable ereader. iRex Technology was also the first company to bring a usuable ereader to market, the Iliad.

iRex Technology nested itself in the top of the market, striving after quality and pricing its ereaders high. Competition by manufacturers of cheaper ereaders and marketing setbacks made it not easy for iRex Technologies to conquer a fair market share. talked to iRex Technologies about the production of the Kindle, but did not get to an agreement in the end. Last year iRex Technologies missed the Christmas season sales for which it had teamed up with Barnes & Noble.

Last month the company went into chapter 11 and looked for 2 million euro to bridge the financial gap. However when a regional development banker and the Deutsche Bank broke off talks, the bancruptcy was inevitable.

Tags: ereader, ebook

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