It has been a busy day for the beancounters at Thomas Cook Group.
News that it spent a rumoured £20 million to become a second tier sponsor of the London 2012 Olympics can be joined with confirmation that it has also parted with a sizeable amount of money to shore up its software development.
Tnooz has learned today that TCG has acquired some elements of the former BlueSky Technologies business in a package that could reach around £1 million.
A spokeswoman for the company would only confirm that a deal had been completed for “certain assets” of the company following BlueSky’s collapse into financial administration in late-September.
No further details are currently available and it is unlikely that a purchase price will be published at this stage.
The move ends weeks some of the speculation as to the fate of the BlueSky business, although the detail of what was purchased has yet to be revealed by Thomas Cook.
Last week, Tnooz revealed a group of former-BlueSky employees had been brought into the fold as contractors to manage the iTour software project until the administrators had decided which of the five bidders for the Intellectual Property Rights of the company were successful.
It is understood a payment of around £500,000 was paid last night to the administrators MCR following an initial payment believed to be around £650,000 to cover debenture loans.
Details to how the project will run within the Thomas Cook empire are expected in the next few days as well as whether redundancy payments will be made to ex-BlueSky staff not taken under the wing of Thomas Cook Group.
Kevin: Do you think the assets purchased are chairs and typewriters for all of the former BlueSky employees? Ya, never know:)
The information I have is that it is the IPR asset – some hardware assets are included, but this is clearly not the reason why TCG wanted to get its hands on the business.
Very funny Dennis you’re such a wag. Glad you think it’s worth a smilie
whether redundancy payments will be made to ex-BlueSky staff not taken under the wing of Thomas Cook Group.
Will be surprised pleased but surprised cant see it though, from the way the those taken under the wing of TC have behaved I cant see any fair deals for those who were left without pay or redundancy.
I think they hope those who were left in the cold would as one wrote suck it down an move on.