U.S.-based contactless reader and NFC software vendor Vivotech has told employees that it plans to cease operations, NFC Times has learned.
The vendor is holding conference calls today with employees in branch offices to explain the move to discontinue operations–though it could continue to fulfill some contracts–as it seeks to reach deals to sell its reader and possibly the software businesses, sources told NFC Times. The company has had as many as 90 employees, said a source.
UPDATE (11:00 a.m. PDT, July 27): Vivotech executive chairman Mick Mullagh said in a statement that would be posted on the company's Web site that "Vivotech's business fundamentals are strong." He said that over the past six months, the company has been trying to find a qualified buyer for its reader business.