More than $1.5M worth of VMS assets were auctioned off Jan. 4 as part of the company’s bankruptcy sale with sister company BurrellesLuce snapping up two software services before being outbid for a third.
BL, which shares ownership with shuttered VMS, was outbid by VMS rival Critical Mention after that company shelled out $11,000 for unnamed source code and proprietary VMS software. BL won bids for the Insight Legacy System ($10K), PRTrak ($18K). There were no other bids for those assets.
While the Insight Legacy and PR Trak software were sold at the minimum bids set by the bankruptcy trustee, the proprietary software was bid up from a $5K start.
The largest asset in the auction was VMS’ receivables cache, which went for $750,000 to MLA Associates LLC. That was followed by computer hardware which sold for $670K to Abacus Solutions.
VMS’s advertising library used for its AdSite service, along with its customer relationship database, went to GMH Ventures for $30K and $5K, respectively.
VMS shut down operations in August before filing for Chapter 7 bankruptcy after a 30-year run in media monitoring.