Altobridge Files for Bankruptcy - 130 Jobs at Risk
An Irish telecoms provider, Altobridge that specialized in rural network infrastructure has filed for bankruptcy.
A short statement on the company's website confirmed the development. The news could put around 130 jobs worldwide at risk, including 45 at its Irish headquarters.
In 2011 the company had a turnover of $16.1 million and raised US$19.8 million in investment from both Intel and the World Bank's International Finance Corporation.
It's still not clear when the company was aware of financial difficulties, or what tipped it over the edge so unexpectedly, although it had recently shifted away from providing hardware towards software licensing.
Commercial trials for its urban Data-at-the-Edge deployment are pending with unnamed network operators in the USA, Europe and North Africa.
Data-at-the-Edge (DatE) optimises data delivery for mobile network operators. The broad spectrum of its functionality includes HTTP acceleration, in-line data and header compression, user data caching at the cell site, data traffic management and least-cost routing.