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PUNE, Jan. 27

DX Technologies, the technological development arm of Digital Publishing Solutions, has entered the e-publishing market with its DX Publishing Suite, for content management, distribution and commerce, and DX Enterprise, for volume, quality and content production.

Speaking to newspersons, Mr Richard Pipe, Chief Executive Officer, DX Technologies, said that the publishing suite addresses the archiving and management requirements of publishers, institutions, libraries and other high volume content users.

DX Enterprise has in-built production tool suite for all document processes, quality monitoring and auditing systems, cost and time tracking modules and workflow management.

DX's solutions include a range of software products that could be configured to almost any content distribution or production requirement, he added.

"DX Technologies would also be using selected partners as outsource partners for their international sales."

Mr Pipe said that the new company has a safe capital for three months and has already bagged a number of orders.

Giving an insight into the liquidation of Digital Publishing Solutions Pvt Ltd (DPSPL), formerly known as Versaware Technologies, Mr Pipe said that the company had gone into voluntary liquidation on January 7, 2002.

"We liquidated to ensure the ongoing viability of our presence in the market. We now have a substantial base of intellectual property that says the company is more valuable as a technology developer and licensor than a service provider."

He added: "We have a substantial base of clients that use and want the DPS products and services. Rather than try and do it all ourselves, we see the real business ahead as licensing our technology and methods to a much wider base of suppliers."

DPSPL was purchased outright along with the IPRs with investments from Mr Harry Fox. The company had expected to maximise investment levels through a fresh round of funding. "Simply put, we ran out of cash," Mr Pipe said.

The liabilities would be paid from funds generated out of sales of assets, current accounts receivable and shareholder contributions.

"The liquidators have been granted permission to complete the work-in-hand within the next 2-3 months thorough outsourcing, which would maintain client relations and contribute to the liquidation process."

Mr Pipe said that DPS inherited a large debt from Versaware ($4,00,000), adding that the re-engineering process from a captive production unit to a stand-alone technology company was a large investment.

Identified investors decided to pull out of commitments and the debt burden had reached trigger point; the ability of creditors to support the company had reached their natural operational limits.

The total debt is to the tune of $8,00,000 with some debt open for negotiation. The company expects to have the debts discharged within 12 weeks.

Mr Pipe said that additional sales would continue and any outstanding balance would be returned to the shareholders as per the legal requirements.

On the status of the 936 employees who have lost their jobs because of the liquidation, he said that they would be given compensation of one month's salary plus amount equivalent to two weeks of the employee's working period.

He added that the outsourcing company requested by the liquidator would be able to employ up to 100 people for a period of three months.

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