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Quadrant 4 Systems Bankruptcy Sales Approved

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The U.S. Bankruptcy Court approved the sale of Quadrant 4 Systems’ Solution Business Unit to Aspire System Consulting. The order states, “As a result of the competitive bidding at the Auction: (i) the offer of Aspire of a cash payment in the amount of $9,790,000 for all of the Solutions Units, in bulk…was declared by the Debtor…as the Prevailing Bid.”

The Court also approved the sale of the QEDU Education Platform Business Unit to Brainchild Unlimited, as assignee of First Tek, in the amount of $700,000. Finally, the Court authorized the sale of the Legacy Staffing Business Unit to Intellyk, as assignee of Innovyt and Sunmerge Systems. That order states, “As a result of the competitive bidding at the Auction: (i) the offer of Innovyt/Sunmerge in the amount of $3,470,000 for the Staffing Business…was declared…as the Prevailing Bid.”

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The post Quadrant 4 Systems Bankruptcy Sales Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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