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Print Edition StoriesThursday, January 15, 2009
ThinkEngine files for Ch. 7 bankruptcy
In their own words: Sanjay Vakil, founder, LuckyCal Inc.
In their own words: Tech Citizenship award recipient Neil Fennessey, CEO, Four Mangos Inc.
How is the economic crisis affecting tech companies?
ThinkEngine Inc., a Marlborough-based media network systems company, filed for Chapter 7 bankruptcy in Worcester yesterday.
The company’s two primary products have been a voice services router and a network media server. Most of its revenue has come from only a few large customers, which have included Comcast Corp., Verizon Communications Inc. and Cox Communications.. At the end of 2007, the company reported 36 employees.
In March, the company reported it had been delisted from the American Stock Exchange, after losses in 2006 of $5.6 million on revenue of $9.6 million.
Bankruptcy court documents indicated the company in November agreed to sell three U.S. patents to Castell Software LLC of Wilmington Delaware for the sum of $250,000.
ThinkEngine was created in 2005, after the merger of publicly traded Cognitronics Corp. of Danbury, Conn., and then privately held ThinkEngine.
ThinkEngine officials could not immediately be reached.
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