LightPointe Looks for Buyer
The company terminated its employees and shut its doors a couple of weeks ago because it did not have the funding to make significant payments. The firm has now, however, hired an affiliate of Sherwood Partners LLC to manage its assets with a view to finding a buyer, according to an email update from LightPointe and Sherwood Partners. The email was shared with Unstrung by an industry source. (See Lights Out at LightPointe.)
The partners have hired back a subset of the employees to maintain the business while looking for a buyer. According to the email, that search is underway now.
Craig Mathias, Farpoint Group analyst and Unstrung contributor, points to firms in related businesses as likely buyers.
"They had both optical and microwave/millimeter-wave technologies, so I would guess another firm in the bridge business," he says. "Their technology is still viable, even with WiMax beginning to roll out."
As Mathias points out, this means that there are a lot of potential candidates. "Alvarion, Aperto, Trango... There must be 50 of them," he says.
Some of LightPointe's customers seem to be unaware of what is happening with the company. Users that Unstrung called this morning still hadn't heard of the shutdown. The company had a number of high profile deals on its books such as its wireless installation at Jazz at Lincoln Center in New York City, which has been using LightPointe's technology to broadcast data from its administrative offices to the Frederick P. Rose Hall midtown performance facility.
— Dan Jones, Site Editor, Unstrung