Qume Corp – or rather the parts of it that most people think of as Qume, is changing hands again: having been a free-standing company, an ITT Corp subsidiary, and controlled by Wearnes Technology Pte Ltd of Singapore, it is now going to Taiwanese-owned Wyse Technology Inc. Wyse is buying the assets and liabilities of the Qume terminal, monitor and printer supplies and accessories businesses, and the Qume name, for about $13.8m. Qume will use the proceeds to repay its US and Europe bank debt and bring its accounts payable more up to date – including those of its 56%-owned DTC Technology Corp in Taiwan. About $4m will be held by Wyse for a year pending sale of some inventories, collection of receivables and specified performance by Qume and its units. Qume says it was forced to sell out by pressure from lenders and vendors, which made it impossible to support any of its businesses financially. It now plans to devote itself to its storage controller business, which does about $12m a year. Qume will now change its name to Data Technology Corp; it is also cutting its stake in DTC Technology to below 50%.
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