Sydney-based security software provider iSherriff is on the sale block after being placed in receivership in July.
The company, also known as Internet Sherriff, was placed in the hands of Queensland-based insolvency firm SV Partners on 6 July by the company’s secured creditor, a Queensland based company called O’Leary Investments.
iSherrif remains open for business and is trading as usual, although a source inside the company confirmed that iSherriff’s executive director, David Ramsay, is no longer in charge.
SV Partners launched its campaign to sell the business as a going concern earlier this week, according to ZDNet.
While receiver Terry Van Der Velde was unavailable for comment this morning, it is believed interest has been strong, with a number of inquires from overseas, and the remaining staff are confident that the business can be sold. “There’s a real sense of optimism,” the insider says.
According to SV Partner’s website, offers for the business close at 4.30pm on 17 August.
iSherriff was established in 1999 and provides enterprise security solutions, including content, bandwidth and email security products. Many of these products were sold via partnerships with software resellers, internet service providers and mobile carriers.
Attempts to contact O’Leary Investments and David Ramsay were unsuccessful.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
