Dublin-headquartered PlanNet21 Communications has purchased Hutchinson Networks Ltd (HNL) after the firm entered administration on the 13th May 2019.

The folding of the Edinburgh-based networking firm resulted in 94 redundancies, although 13 employees remained within the business to help provide a range of limited services to customers while administrator KPMG explored a sale of the business and its assets.

The IT network solutions provider appointed KPMG’s Blair Nimmo and Alistair McAlinden as administrators after unsuccessful attempts to raise additional investment and implement cost control measures, following a range of challenging factors, including contract delays and lower than forecast sales margins.

The sale to PlanNet21 Communications Ltd was completed on the 13th of June 2019.

Blair Nimmo, joint administrator and UK head of restructuring at KPMG, said: “We’re delighted to have successfully completed a sale to PlanNet21 Communications, protecting a number of jobs and safeguarding the cutting edge technology and intellectual property developed locally by Hutchinson Networks.

“Hutchinson Networks built a fantastic reputation and there was significant interest both within the UK and globally in its business and assets. PlanNet21 Communications is based in Ireland and this acquisition will provide the new owners with a fantastic base from which to expand their operations into the UK. I wish them every success for the future.”