Administrators in at TriniTEQ

ADMINISTRATORS have been appointed to Malaga-based TriniTEQ Ltd after the company sold its business operations to a group of Australian and US-based venture capital shareholders. Previously operating as PalmTEQ, TriniTEQ is a global provider of the WaiterPAD handheld point-of-sale and software programs to restaurants and hospitality venues. The business has offices in Perth, Sydney, Brisbane, Melbourne, Emeryville in California and Liverpool in England, and employs more than 70 staff globally. TriniTEQ Ltd is currently being wound up, with the new business to be re-badged TriniTEQ International. Current TriniTEQ Ltd chairman Chris Higham said the company had been supported for many years by a group of venture capitalists, which had now taken the opportunity to buy the business. TriniTEQ Ltd had been in the process of trying to raise capital, and when the markets weren’t supportive of the business in its current form it recognised a need for a restructuring to make it more profitable. The purchase includes all of the company’s international subsidiaries and the technology itself. The WaiterPAD is deployed in more than 5,000 sites worldwide, carrying from three to 25 hand-held units each. In September, TriniTEQ Ltd announced that it had been selected as an IBM business partner in the food service and hospitality industry

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