It’s the 43-year-old tech stalwart that just won’t die. NetComm Wireless, the company behind Australia’s first dial-up modem, has been saved again, this time by a Canadian billionaire who’s plucked it out of its second stint in administration in five years.
NetComm was headed for the scrapheapafter its Nasdaq-listed owner, DZS, filed for bankruptcy in March, less than a year after buying it. The Texas-based DZS bought it for $US7 million from another defunct technology business, Casa Systems – which also went bankrupt – at a $US150 million discount.
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Amelia McGuire covers technology from the AFR's Sydney newsroom. She was previously the aviation, tourism and gambling reporter for The Sydney Morning Herald and The Age. Connect with Amelia on Twitter. Email Amelia at a.mcguire@afr.com.au
