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	<title>Geek4Eva &#187; restructure</title>
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		<title>SmartPay buys ProvencoCadmus</title>
		<link>http://geek4eva.com/2009/08/19/smartpay-buys-provencocadmus/</link>
		<comments>http://geek4eva.com/2009/08/19/smartpay-buys-provencocadmus/#comments</comments>
		<pubDate>Wed, 19 Aug 2009 06:00:13 +0000</pubDate>
		<dc:creator>Farid Vaswani</dc:creator>
				<category><![CDATA[IT Companies]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[restructure]]></category>

		<guid isPermaLink="false">http://geek4eva.logicx.co.nz/blog/?p=87</guid>
		<description><![CDATA[There is some (good?) news from ProvencoCadmus. SmartPay buys ProvencoCadmus&#8217; payments division. Provenco merged with Cadmus and became ProvencoCadmus around a year ago. But with recession and a debt of almost $45 million ProvencoCadmus went into receivership recently. As per [&#8230;]]]></description>
			<content:encoded><![CDATA[<p>There is some (good?) news from ProvencoCadmus. <a href="http://computerworld.co.nz/news.nsf/news/EC07A4D3AEF0BF5CCC257617000A007B" target="_blank">SmartPay buys ProvencoCadmus&#8217; payments division.</a></p>
<p>
Provenco merged with Cadmus and became ProvencoCadmus around a year ago. But with recession and a debt of almost $45 million ProvencoCadmus went into receivership recently.</p>
<p>
As per the above article SmartPay will be moving into ProvencoCadmus office &#8211; does that mean there will be no lay-offs and ProvencoCadmus staff continue work with SmartPay? Its not mentioned clearly. I hope they do as I have got some ex-colleagues who used to work for ProvencoCadmus.</p>
<p>
<a href="http://computerworld.co.nz/news.nsf/news/EC07A4D3AEF0BF5CCC257617000A007B" target="_blank">Source</a></p>
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