In mid April, German broadcast-equipment manufacturer 2wcom GmbH filed for insolvency with the Amtsgericht Flensburg district court.
The company plans to continue its operations while in insolvency and to continue on with a new investor, according to Karin von Appen, a spokesperson for the company.
2wcom manufactures measurement, monitoring, control and endoding systems for analog FM and RDS/RBDS and DAB and DVB digital broadcasting. The company also offers a complete DVB-S/S2 audio and IP satellite distribution system, as well as an RDS-based early warning system for disaster situations.
The company was founded in 1996 when its founder and CEO, Werner Drews, took over Rhode & Schwarz’s FM-RDS product range. In 2005, 2wcom founded viaRadio Corp. in the United States; viaRadio was sold to Comlabs in early April ahead of the insolvency filing.
In a letter to creditors, 2wcom blamed the insolvency filing on the global economic crisis and struggles at viaRadio. “Substantial measures were already taken in the past, but because of the tight time schedule they could not have the full effect until now,” the letter reads.
Sven-Holger Undritz of White & Case Insolvez GbR was appointed by the court to administer the insolvency process.