IMC rebounds from cash crunch
News | 10/18/2000 4:00 am EDT
|
Troubled Internet Multimedia Corp (IMC), which was to have moved operations to Toronto, has turned its fortunes around with the acquisition of an Italian new media company. IMC, the future of which was seriously in doubt at the end of March, has purchased Italian-based Oasis Technology S.r.l, and reported positive financial results in the third quarter ending Sept. 30. Its plan to move operations to Toronto, announced July 5, has been shelved, though company CEO Remo Calabrigo will continue to be based in Hogtown. This content is available to wirereport.ca subscribers Already a subscriber? Sign in here Unlock all the Canadian telecom, broadcasting and digital media news you need.Take a free trial or subscribe to The Wire Report now. FREE TRIALTwo weeks free access to thewirereport.ca and our exlusive newsletters. SUBSCRIBEUnlimited access to thewirereport.ca and our exlusive newsletters. Reuse & PermissionsUnauthorized distribution, transmission, reuse or republication of any and all content is strictly prohibited. To discuss re-use of this material, please contact: Customer Care, 613-688-8821 | subscriptions@hilltimes.com |