Monday, November 11, 2013
According to a report in BillingViews, and as can be seen here, "Volubill is actually in the hands of a French receiver appointed on October 29 in a process known as ‘liquidation judiciaire’ (judicial or compulsory liquidation in English). The company appears to have been traveling OK up until 2010 as previously reported but turnover reduced to €11.35m and €10.75m in 2011 and 2012 respectively. Net income for those two years was -€3.73m and -€2.96m and current liabilities exceed €12.5m so it is not difficult to see where the problems lie. The company is simply no longer liquid, not helped by receivables of €10.5m that has barely reduced over two years".
It is a bad time for small companies in this space. An industry source tell me that "prices are dropping dramatically, and some companies will not survive". The small companies probably need to look for acquirers - like BroadHop and even larger players, such as Bridgewater Systems, or Camiant -> Tekelec -> Oracle.
Among Volubill customers' is France Telecom/Orange and many of its global subsidiaries.
The article tells Volubill story and history - see "Volubill shock" - here.