Smartlogik has announced it is filing for voluntary liquidation after selling off the bulk of its business. Privately owned Applied Psychology Research, a UK decision intelligence company, has acquired the assets of the software company in a deal worth up to £2.65 million.
An initial payment of £1.75 million will be followed by the balance, depending on certain customer contracts being signed by the end of September. APR will fulfil Smartlogik’s existing contracts.
Dan Brown, Founder and Deputy Chairman at APR, Feedback from Smartlogik’s customer base on the software’s performance in the field has been impressive. Our technologies complement each other perfectly and we will able to offer solutions that can retrieve information in almost any format with incredible accuracy, and tailor recommendations to individual user needs.
Jeremy Bentley, CEO, is confident that the move will yield both short-term and long-term benefits for customers:
In the short-term customers can be assured that they will be looked after and continue to receive a high quality service. In the longer term, we have a strong management team and we are well placed to realise this software’s potential through industry-specific solutions that meet real business needs. This approach has stood us in good stead through this difficult period for the industry, and we look forward to the next phase in our development.