The former Memex Information Engines Ltd, now Memex Information Services Ltd of Glasgow, has been rescued from receivership by a management buyout backed by the Investors In Industry venture capital fund and the Scottish Development Agency. The company, which has an OEM agreement with Gould Computer Systems for its Textract text retrieval software and believes that the market for such software is on the brink of explosive growth. The jobs of 12 people were preserved by the buyout, and Memex now looks to double its workforce within two years.
